Auction season has begun in ernest with a nervous and expectant collector base keen to see if the art market's period of reflection in 2009, cast against the back drop of the global credit crunch, would continue or if the period of revival and growth would begin.
With important sales at Sothebys now completed we know the resounding answer - the art market it back! With numerous records for the Impressionist and Modern Art Auction in London, the green shoots of recovery seem to be rearing their heads. Highlights included:
Giacometti’s L’homme qui marche I (Walking Man I)
for £65,001,250/ $104,327,006/ €74,185,983*
-- a world record for a work of art at auction--
Gustav Klimt’s Kirche in Cassone (Church in Cassone) sells for
£26,921,250/ $43,208,606/ €30,725,246
-- highest price for a Klimt landscape sold at auction --
Sale realises £146,828,350/ $235,659,502/ €167,575,324
-- highest total for any sale ever held in London --
Melanie Clore, Co-Chairman, Impressionist & Modern Art, Sotheby’s Worldwide, said: “We
are thrilled to have sold these great works this evening and that they have been recognised for the masterpieces that they are. The competition which generated these exceptional results demonstrates the continued quest for quality that compels today’s collectors.”
The Contemporary Art Sale at Sothebys followed the same trend with numerous record prices with an exceptional end of sale total of £54,000,000, well in excess of the pre auction estimate of £32,000,000 - £45,000,000.
With important sales at Sothebys now completed we know the resounding answer - the art market it back! With numerous records for the Impressionist and Modern Art Auction in London, the green shoots of recovery seem to be rearing their heads. Highlights included:
Giacometti’s L’homme qui marche I (Walking Man I)
for £65,001,250/ $104,327,006/ €74,185,983*
-- a world record for a work of art at auction--
Gustav Klimt’s Kirche in Cassone (Church in Cassone) sells for
£26,921,250/ $43,208,606/ €30,725,246
-- highest price for a Klimt landscape sold at auction --
Sale realises £146,828,350/ $235,659,502/ €167,575,324
-- highest total for any sale ever held in London --
Melanie Clore, Co-Chairman, Impressionist & Modern Art, Sotheby’s Worldwide, said: “We
are thrilled to have sold these great works this evening and that they have been recognised for the masterpieces that they are. The competition which generated these exceptional results demonstrates the continued quest for quality that compels today’s collectors.”
The Contemporary Art Sale at Sothebys followed the same trend with numerous record prices with an exceptional end of sale total of £54,000,000, well in excess of the pre auction estimate of £32,000,000 - £45,000,000.
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