Sultry Lover Sets Record at Chilly New York City Art Auction
HighLifeChannel
November 14, 2019
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As an arctic blast sent shivers through New York on Tuesday evening, champagne flowed at Sothe’s , where art dealers and collectors gathered for a sale of Impressionist and modern art.
The auction raised $208.9 million, within the estimated presale range, but down 34% from a similar event last November. Rival Christie’s Impressionist and modern art evening sale on Nov. 11 was down 31% from a year ago, at $191.9 million. Both auctions were lackluster yet efficient, with 84% of works sold at Sotheby’s and 90% at Christie’s. The houses lowered reserves, allowing many pieces to go below their estimates.
The top lot at Sotheby’s was Claude Monet’s “Charing Cross Bridge,” which went for $27.6 million. It was estimated at $20 million to $30 million. (Final prices include fees; estimates don’t.)
It was Sotheby’s first high-stakes sale since going private last month, with recently installed Chief Executive Officer Charles Stewart, a newbie to the art market, in attendance. At one point, a telephone line dropped during a crucial bidding moment; at another, the lights went out for a few seconds. “Cost cuts?” art dealer Josh Baer said jokingly, alluding to the anticipated strategy of the company’s new owner, French telecom tycoon Patrick Drahi.
