Sothebys : L£99 Million /$124.3 Million Sale of Impressionist & Modern Art At Sotheby’s Driven By long-Unseen Works

Press Release

Mitzi Mina | [e-mail] | Melica Khansari | [e-mail] | Matthew Floris | [e-mail]

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£99 MILLION /$124.3 MILLION SALE

OF IMPRESSIONIST & MODERN ART AT SOTHEBY'S

DRIVEN BY LONG-UNSEEN WORKS

Quality Offering is 92% Sold

With Global Demand Across the Entire Category

Monet's Nymphéas (1908) sells for £23.7m / $29.8m

Modigliani's Portrait of an Anonymous Youth (1918)

sells for £18.4m / $23.1m

Helena Newman, Worldwide"GreatHeadartofdrivesSotheby'sa trongImpressionistmarket."& Modern Art Department

STATISTICS AT A GLANCE
•	increase		£98,875,924 / $124,247,486 (est £87.5-126.3m /$111.3-160.6m) -
•	92% Soldon both last June's and last February's sales in GBP	13%
Sale Total:				.
•					: in line with similarly high recent sell-through rates for Sotheby's
	global	Impressionist	and Modern Art sales this year
			by L			robust participation from across Asia and Russia, as well as
•	traditional markets
•			64% of works offered had never
	Global p	rticipation:

previouslyStrong performanceappeared atforauction,long-unseenwith theworks:vast majority finding new homes

Average lot value: £4.3m, among the highest seen in a sale of this kind

MONET RETAINS POLE POSITION
• Monet's Nymphéas, from the 'prime period' (1904-1909), and never-before seen on the
•	market, realised £23.7m / $29.8m (est. £25-35 million) - among the highest prices ever
	achieved at auction for an Impressionist painting sold in Europe.
	Monet's works have featured large in recent sales, having taken the top spot in both of
	Sotheby's most recent flagship sales:		(1908) made £27.5m / $36.2m, and
	o	In London in February,Meules
	o	In New York in May,		(1890) made $110.7m / £85.6m - a new auction
		Le Palais Ducal
•		record for the artist and the first work of Impressionist art to exceed $100 million
		at auction.
	Acquired in 1932, it had been completely unseen since a small exhibition in 1962.
STRONG RESULT FOR MODIGLIANI'S UNNAMED YOUTH
•	Jeune homme assis, les mains croisées sur les gen ux (1918) was pursued by three
•	bidders, selling for £18.4m / $23.2m (est. £16-24 million).

One of only 10 known portraits of anonymous male youths by the artist, the painting had remained in the same family collection since it was first acquired from Modigliani's dealer Léopold Zborowski in 1927, and until now, it had only been published as a black and white image.

SURREALIST ART

"Miró and Magritte reigned supreme tonight and proved, yet again, that their language is
•	James Mackie, Head of Sotheby's Impressionist & Modern Art Department in London
				truly international."
•	Miró is a proven favourite in London sales (the top four prices for Miró have all been
•	achieved in London).	(1938) sold for £12m / $15.1m (est. £10-15 million).
•	Part of a highly important body of work in which the artist engaged with the deteriorating
	Mi ó's Pe nture (L'Air)
	political situation in Spain during his exile in France.
	Led some strong results for			works, including			(1954),
	(1946),		(1942) and	alist
				Surr		Magritte's La magie noire
	all of which sold in excess of high estimate at £4.2m / $5.3m, £3m / $3.8m, and £1m /
		Le grand matin			Untitled (Two Girls Walking Along a Street)
	$1.3m, respectively.
CONTINUED DEMAND FOR LATE PICASSO
•	In line with strong demand for late Picasso seen in Sotheby's recent sales, three works by
	the artist from the 1960s were led by a large-scale, vibrant and fresh-to-the market
	depiction of a musketeer. Never previously offered at auction,		(1968)
	exceeded its estimate, selling for £7.6m / $9.6m (est. £5.5-7.5 million).
								Homme à la pipe
FURTHER NOTABLE RESULTS
•	Camille Pissarro's Le Boul vard Montmartre, fin de journée (1897), not seen on the
	market in over 70 years and from a series of urban views well represented in museums,
•	sold for £7.2m / $9 million (est. £3.5-5 million).
	Henri Matisse's Vase d'anémones	(1946), a late work on canvas before the artist turned
	to cut-outs, realised £4.3m / $5.4m (est. £4-6 million).

• • a dazzling pointillist work by
• soldLes meulesto a Europeanet le clocherprivatedecollectorl'égliseforà Éragny£1.5m / $1.8m (est. £1.2-1.8 million). Pissarro,
  AUCTION RECORDS

	"There is a real excitement in introducing to the international stage artists with
	relatively little previous evening sale exposure - and it's especially hrilling to s e
	Thomas Boyd-Bowman, Head of Sotheby's Impressionist & Modern Art Evening Sales
	their works fly when that happens."
•	in London
	Fritz Glarner's Relational Painting, No. 60, which sold for £759,000 / $953,759 (est.
	£450,000-650,000). Making its auction debut, the painting was being offered to benefit the
	acquisitions fund of the Museum of Modern Art, New York.

, which sold to an online bidder for £963,000 /

• Alfred$1.2m (estKubin's. £150,000Epidemie-200,000)(Epidemic)-over three times the previous record. The drawing was part of an exceptional group of 16 early works on paper by Kubin - the most significant collection of the artist's works ever to come to auction. Formerly in the illustrious collection of Max Morgenstern, Kubin's great patron and supporter, they have now been restituted from the Lenbachhaus museum in Munich to the heirs of Max and Hertha Morgenstern. (The remaining 15 works will be offered in tomorrow's Day Sale).

The Impressionist & Modern Art Day Sale follows tomorrow

est. £14.8 - 21.3 million / $18.9 - 27.1 million

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*Estimates do not include buyer's premium. Prices achieved include the hammer price plus buyer's premium and are net of any fees

paid to the purchaser where the purchaser provided an irrevocable bid.

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