Impressionist, Modern & Surreal Art Exceeds $76 Million At Christie's

LONDON

:Christie's evening sales of Impressionist and Modern art and the art of the Surreal on February 7 achieved a combined total of $76,778,208. The top-selling lot was Chaim Soutine's "Le pâtissier de Cagnes," painted circa 1922-1923, the last of Soutine's paintings of baker boys left in private hands, which realized $9,449,856, establishing a world auction record for the artist. The art of the Surreal sale was led by an oil on canvas by Yves Tanguy, "Les derniers jours," which sold for $7,562,880, a new world auction record for the artist.

"Christie's February evening sale of Impressionist and Modern art again attracted extremely fierce bidding from an international audience," commented Jussi Pylkkänen, president of Christie's Europe and the sale's auctioneer. "European collectors continued to dominate as they sought works of art of great quality. We did see activity from the American trade, in particular for select Surrealist works of art. All the rooms were absolutely packed, bringing a lively atmosphere to proceedings as the overall market continues to be strong."

The total for the Impressionist and Modern art evening sale was $57,739,968. Buyer activity was 88 percent from the UK and Europe, 10 percent from the Americas and 2 percent from Asia. The sale was 82 percent sold by lot and 79 percent sold by value with 82 percent of works selling within estimate or above. Fifteen works sold for more than $1 million and a further four works sold for more than $1 million in the art of the Surreal sale.

The second highest-selling lot was Picasso's "Homme à l'épée," 1969, which achieved $5,046,912. Demand for Picasso's pictures was strong, with eight works selling for a total of $17,228,390. Many of the Picasso works exceeded their high estimates, including "Chat et homard," 1965, which realized $4,208,256.

Other works that performed well include Pierre Bonnard's "Le dessert," which realized $2,530,944, and Gustave Caillebotte's "Portrait de jeune femme dans un intérieur," 1877, which sold for $3,159,936.

There was wide interest in the collection of Adolphe Friedmann, which collectively achieved $3,827,866.

The Impressionist and Modern art evening sale established two further records, both for works on paper: August Macke's "Spaziergang im Park," sold for $958,464, and Henrich Campendonk's "Pferde am See," which achieved $685,900.

The art of the Surreal evening sale realized $19,038,240, the highest ever total in this category at auction. The sale was 71 percent sold by lot and 85 percent by value. Buyer activity was 69 percent from the UK and Europe, 24 percent from the USA and 7 percent for Asia. Four works were sold for more than $1 million.

Olivier Camu, director of Impressionist and Modern art, commented, "The results reflect the rising popularity of Surrealist art at auction as this segment of the market expands."

In addition to the record-breaking Tanguy painting, there was wide interest in works by Joan Miró, including "L'étoile," 1927, a white background "dream painting" that achieved $3,159,936, and "Peinture," 1937, that achieved $1,377,792. Demand for René Magritte was also high, with "Le baiser," 1957, achieving $299,200 and "La pensée visible" realizing $560,102.

A world auction record for a sculpture by Oscar Dominguez, was achieved in the sale for "Femme couchée," a wood sculpture that sold for $360,922.

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