London record broken as Sotheby's art sale raises £88m
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.It attracted buyers from around the world in what was one of London's most keenly anticipated art sales. And when the final bid was lodged at Sotheby's on Monday night, those clamouring for Impressionist and Modern paintings by the likes of Modigliani, Picasso and Degas had produced a record-breaking evening. A total of £88.7m was spent - the highest amount for any auction held in London .
Melanie Clore, deputy chairman of Sotheby's Europe, said the sale provided "unequivocal evidence that the market is as strong as it has ever been".
She said some of the bidders were so eager to secure the finest pieces that the normal increments of 10 per cent proved too modest. For Modigliani's portrait Jeanne Hébuterne au Chapeau, one of the two bidders to fight it out to the end offered increments of £400,000 and £500,000. It was finally sold for £16.36m, the second-highest price for a Modigliani at auction. A pastel from Degas's Bather series sold for £6.7m. A classic Renoir , Femmes dans un Jardin, made £4.9m. Picasso'sLe Peintre et son Modèle from 1963 fetched £7.4m, the highest price paid for a late Picasso, while his Les Courses à Auteuil, from 1901, mad £2.6m. Twenty works sold for more than £1m.
More records were expected last night when Christie's held its Impressionist and Modern sale, which included a dozen more Picassos and works by Cézanne and Renoir.
London sale rooms have fought back against the dominance of New York in recent years. They have been boosted by the weakness of the dollar, which means even Americans want to sell their works out of London.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments