The Highest Winning Bids
Like the rest of the global economy, the art world has experienced its share of turmoil, prompting it to change the way it does business. Could a turnaround in the high-end art market signal a comeback for the economy at large?
Tuesday’s auction of impressionist and modern art conducted by Sotheby’s sent mixed signals. More than 80% of the items were sold—the highest level in two years—pulling in $61,370,500. Some pieces went for twice estimated value, but the top two pieces didn't sell: a 1938 portrait by Pablo Picasso offered by a Bernard Madoff victim, and “The Cat,” a bronze sculpture by Alberto Giacometti.
Sotheby’s reported $52 million in losses last fall, and recieved a recent downgrade to "junk" status by Standard and Poor's. Its stock (BID) has fallen from $61.40 in 2007 to just under $12 on the night of the auction.
So what were the priciest pieces sold? Click ahead to see the top 10!
By Paul Toscano
Posted 6 May 2009
10. La Gardeuse de Chèvre
Winning Bid: $2,546,500
Estimate: $1,400,000 - $1,800,000
Value Sold: 141% of top estimate
Artist: Camille Pissarro (1831 - 1903)
Painted in 1881
Signed C. Pissarro and dated 81 (lower right)
Oil on canvas
Measurements
32 by 25 3/4 in
9. La Vallée de la Seine aux Damps, Jardin d'Octave Mirbeau
Winning Bid: $2,546,500
Estimate: $1,000,000 - $1,500,000
Value Sold: 169% of top estimate
Artist: Camille Pissarro (1831 - 1903)
Painted in 1892
Signed C. Pissarro and dated 1892 (lower right)
Oil on canvas
Measurements
25 5/8 by 36 5/8 in
8. Le Jongleur de Paris
Winning Bid: $2,882,500
Estimate: $2,000,000 - $3,000,000
Value Sold: 96% of top estimate
Artist: Marc Chagall (1887 - 1985)
Painted in 1969
Signed Marc Chagall (lower left); also signed Marc Chagall on the reverse
Oil on canvas
Measurements
45 1/2 by 35 in
7. Portrait de Mademoiselle Poum Rachou
Winning Bid: $2,994,500
Estimate: $1,800,000 - $2,500,000
Value Sold: 120% of top estimate
Artist: Tamara de Lempicka (1898 - 1980)
Painted in 1933
Oil on canvas
Measurements
36 1/4 by 18 1/4 in
6. Inondation à Pontoise
Winning Bid: $2,994,500
Estimate: $900,000 - $1,200,000
Value Sold: 250% of top estimate
Artist: Camille Pissarro (1831 - 1903)
Painted in 1882
Signed C. Pissarro and dated 1882 (lower right)
Oil on canvas
Measurements
21 1/4 by 25 5/8 in
5. Claude Monet et Mme Henriot
Winning Bid: $3,218,500
Estimate: $1,500,000 - $2,000,000
Value Sold: 160% of top estimate
Artist: Pierre-Auguste Renoir (1841-1919)
Painted in 1880
Signed Renoir (upper right)
Oil on canvas
Measurements
21 3/8 by 28 3/4 in
4. Voilier sur le petit bras de la Seine, Argenteuil
Winning Bid: $3,498,500
Estimate: $1,200,000 - $1,800,000
Value Sold: 194% of top estimate
Artist: Claude Monet (1840 - 1926)
Painted in 1872
Signed Claude Monet and subsequently dated 75 (lower right)
Oil on canvas
Measurements
20 1/8 by 25 in
3. Portrait de la Duchesse de la Salle
Winning Bid: $4,450,500
Estimate: $4,000,000 - $6,000,000
Value Sold: 74% of top estimate
Artist: Tamara de Lempicka (1898 - 1980)
Painted in 1925
Signed T. de Lempicka (upper right)
Oil on canvas
Measurements
63 3/4 by 38 1/4 in
2. Portrait de Marjorie Ferry
Winning Bid: $4,898,500
Estimate: $4,000,000 - $6,000,000
Value Sold: 82% of top estimate
Artist: Tamara de Lempicka (1898 - 1980)
Painted in 1932.
Signed Lempicka (lower left)
Oil on canvas
Measurements
39 3/8 by 25 5/8 in
1. Composition in Black and White, with Double Lines
Winning Bid: $9,266,500
Estimate: $3,000,000 - $5,000,000
Value Sold: 185% of top estimate
Artist: Piet Mondrian (1872 - 1944)
Painted in 1934
Signed with the initials PM and dated 34 (bottom center); signed Piet Mondrian on the stretcher
Oil on canvas
Measurements
23 3/8 by 23 3/4 in