Evening Sale Of Impressionist And Modern Art Totals $130.1 Million

NEW YORK CITY

:There was applause at Sotheby's the evening of November 2 when Pablo Picasso's "Nu Jaune," a study for the artist's groundbreaking work, "Les Demoiselles d'Avignon" from the collection of Josephine and Walter Buhl Ford II, sold for $13,736,000, far eclipsing the presale high estimate of $4 million, and highlighting a highly successful sale of Impressionist and Modern Art that totaled $130,126,000.

The Picasso was one of six works from the Ford collection, which brought a total of $23,726,400, far above the presale estimate of $6.8/9.1 million. At the sale, 30 works sold above their high estimates, with 32 works bringing more than $1 million each. The sale was 95 percent sold by value and 87 percent sold by lot. Auction records were established for Berthe Morisot, whose "Cache-Cache" sold for $5,168,000; and Conrad Felixmuller, whose "Clemens Brau"n sold for $1,136,000.

Competition was fierce for works from the Ford collection, many of which had been off the market for many decades. Picasso's "Nu Jaune" was the subject of a heated battle between a bidder in the room and one on the telephone, and the final price set a record for a work on paper by the artist at auction. "We like these increments," said auctioneer Tobias Meyer. Executed in 1907, the early gouache of a brilliant yellow nude had been acquired by the Fords in 1965 and thus had been off the market for 40 years.

Also from the Ford collection was Alexej Jawlensky's striking portrait of a Sicilian woman with a green shawl, "Sizilianerin mit Grünem Shawl," which sparked frenzied bidding between seven bidders, finally selling to a telephone bidder for $5,168,000. Executed in 1912, the canvas reflects the many stylistic influences that shaped Jawlensky's art and contributed to the development of German Expressionist painting. Also from 1912 was Picasso's "Guitare, Verre, Bouteille de Vieux Marc," a sparkling still life executed at the height of the Cubist period, which sold for $3,712,000.

"Le Grand Canal" by Claude Monet, which came from another private collection, was an additional highlight of the evening, selling for $12,896,000 to a bidder on the telephone. One of 37 Venetian views that the artist painted in the autumn of 1908 during a trip to the Italian city with his wife Alice, the oil on canvas depicts Santa Maria della Salute seen from the steps of the Palazzo Barbaro. Also among the top ten lots was Henri Matisse's sensuous "Robe jaune et robe arlequin (Nezy et Lydia)," which brought $10,936,000. Depicting two of his favorite models, Lydia Delectoriskaya and Nezy Hamid Chawat, the painting had been estimated to sell for $9/12 million.

The sale also included works consigned by the Los Angeles County Museum of Art sold to benefit the acquisitions fund. In total, the six works brought $11,408,000, above a presale estimate of $6.8/10.3 million. The offering was highlighted by Amedeo Modigliani's "Portrait of Manuel Humbert Estève," a Spanish landscape painter from Barcelona whom Modigliani met in Paris, which brought $5,504,000. "Figurine," a well-modeled rendition of the most important motif in Alberto Giacometti's career, was another highlight of the evening, selling for $3,040,000 to a bidder on the telephone. Max Ernst's painting, "La Mer," from 1925, sparked furious competition from as many as eight bidders, finally selling to a bidder on the phone for $968,000, more than five times the high estimate of $180,000.

An iconic work by Marc Chagall, "Le Jongleur," brought $4,048,000. Painted in 1943 when the artist was living in exile in New York during World War II, this highly imaginative composition combines all of Chagall's best-known motifs from the prime of his career. Sold by order of the board of trustees of the Art Institute of Chicago, the painting had been estimated at $2.5/3.5 million.

Claude Monet's "Le Pont Japonais" was sought after by five bidders, selling for $5,168,000, more than double the high estimate $2 million. The painting had been in the family of the present owner for the last 50 years.

An additional Impressionist highlight was Morisot's "Cache-Cache," one of the artist's best known works depicting Morisot's sister and niece playing hide-and-seek.

Five different bidders in the room and on the telephone competed for Picasso's jewel-like "Tête de Femme," which soared past a presale estimate of $800,000 to $1.2 million to bring $3,376,000. Acquired by the present owner in 1945, the canvas depicts Olga Kokhlova, the Russian ballerina, and the artist's wife.

Prices reported include buyer's premium, which is 20 percent of the hammer price on the first $200,000, and 12 percent thereafter.

For information, 212-606-7000 or www.sothebys.com.