Sotheby’s Notched a Solid $408.5 Million Modern Art New York Sale Fueled by the Reliable Churn of Blue-Chip Monets and Picassos

  • 📰 artnet
  • ⏱ Reading Time:
  • 71 sec. here
  • 3 min. at publisher
  • 📊 Qulity Score:
  • News: 32%
  • Publisher: 51%

Sotheby’s notched a solid $408.5 million Modern art New York sale fueled by the reliable churn of blue-chip Monets and Picassos:

United States Headlines News

United States Latest News, United States Headlines

Sotheby's Modern art evening sale in New York on May 17, 2022. Image courtesy Sotheby's.

Bidding was particularly robust, if not quite frothy, for the blue-chip stars of the Modern and Impressionist periods. Auctioneer Oliver Barker opened the bidding around $46 million. A few $1 million bids bumped it up to $49 million, when, despite coaxing and ample time for further competition, the work was hammered down to Brooke Lampley, worldwide head of sales for global fine art at Sotheby’s. With premium, the final price was $56.6 million. , estimated at $20 million to $30 million.

Bidding opened around $55 million and reached $58.5 million , making it the evening’s top-priced lot. Barker acknowledged the winning bidder by name: “I see your bid, Amy. You used to work here, don’t be a stranger,” he said, referring to former Sotheby’s executive turned private advisor Amy Cappellazzo.Other high-profile lots in the sale were Impressionist masterpieces that came from the collection of the Toledo Museum of Art—the largest institutional deaccession of the season .

After tenacious bidding between Newman, a woman in the room, and other Sotheby’s specialists in New York and Hong Kong, Newman won it for $15.3 million with premium.Notable bidding wars for the night included Willem de Kooning’s, which was chased by multiple bidders well past the high estimate of $5 million, ultimately selling for $10.1 million with premium., blew past the $12 million high estimate , to sell for $17.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 522. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

check this nft artwork; let’s put an end to the FossilFuels era…

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Modern Caribbean Restaurant St. James Opens Today' on 14th Streetphoto courtesy Melena DeFlorimonte From a press release: 'Jeanine Prime is proud to announce the long-awaited opening of St. James, a modern Caribbean Very excited to try this.
Source: PoPville - 🏆 435. / 53 Read more »

‘Irma Vep’ Trailer: Alicia Vikander Stars in HBO’s Modern Take on 1996 Olivier Assayas FilmHBO released the trailer for its upcoming limited series “Irma Vep,” from writer-director Olivier Assayas, based on his 1996 film of the same name. Starring Academy Award winner Alicia …
Source: Variety - 🏆 108. / 63 Read more »

Replacement Theory: history, ties to modern mass violenceIn Buffalo, and across recent years, Replacement Theorists have taken it upon themselves to stop people who they think are trying to ethnically replace them.
Source: FOX26Houston - 🏆 448. / 53 Read more »

Students put a modern spotlight on traditional Filipino folk dancing called tiniklingA group of Georgia Tech students went viral when they performed the dance to a popular American rap song.
Source: wrtv - 🏆 598. / 51 Read more »

Modern Caribbean Restaurant St. James Breezes Onto 14th StreetHighly anticipated Caribbean restaurant St. James is opening tonight on 14th Street.
Source: washingtonian - 🏆 74. / 68 Read more »