View of French Impressionist Edouard Manet's Self Portrait , 1878-1879, which sold at auction at Sotheby's in London, for $33.1 Million Tuesday June 22, 2010. AP Photo/Max Nash
LONDON, TUESDAY 22 JUNE, 2010 – Tonight’s much-anticipated sale of Impressionist & Modern Art at Sotheby’s in London brought a within-estimate total of £112,101,350 / $165,282,230 / €134,409,672. Three works sold for more than £10 million, only the second time this has happened in London auction history: Edouard Manet’s museum-quality masterpiece Self Portrait with a Palette sold for £22,441,250 ($33,087,379 / €26,907,089), setting a new auction record for the artist; André Derain’s Arbres à Collioure, from the Vollard trove, made £16,281,250 ($24,005,075/€19,521,241), double the previous record for the artist and a record for any Fauve painting at auction; and Henri Matisse’s Odalisques jouant aux dames brought £11,801,250 /$17,399,763 / €14,149,715. The sale attracted buyers from no fewer than 13 countries; of the lots sold, over 50% achieved prices in excess of the high estimate; and the average lot value for the works sold reached an exceptional £3.2 million. The sum achieved tonight brings the total of Impressionist & Modern Art sold by Sotheby’s London so far in 2010 to an unprecedented £276 million.
Commenting on tonight’s sale, Melanie Clore, Co-Chairman of Impressionist & Modern Art, Sotheby’s Worldwide, said: “The strong results achieved this evening demonstrate the strength of the international demand for top-quality works. To sell three works for over £10 million – for the second time in our sales in London in the last six months - is testimony not only to the vitality of the Impressionist and Modern Art market but also to the pivotal role that London plays within the international auction market.”
Edouard Manet (1832 - 1883), Portrait de Manet par lui-même, en buste (Manet à la palette), oil on canvas, circa 1878-1879, 85.5 by 71cm. Estimate 20,000,000—30,000,000 GBP. Lot Sold 22,441,250 GBP to an anonymous. Record for the artist at auction. photo Sotheby's
Self Portrait with a Palette, a rare, museum-quality work of 1878/9 by Edouard Manet, the father of Impressionism, sold this evening to an anonymous bidder for a record £22,441,250 ($33,087,379 / €26,907,089), eclipsing the previous record of $26m/£16m, which had stood unchallenged for the last 21 years. The price achieved tonight is almost double that realised by the same painting when it sold in the famous Loeb Collection sale in 1997 for $18.7m. Tonight’s buyer joins a roster of illustrious collectors who have been quick to recognise the importance of this exceptional work (previous owners of the painting include Auguste Pellerin, the Marquise de Ganay and Jakob Goldschmidt).
André Derain (80 - 1954), Arbres à Collioure, oil on canvas, 1905, 65 by 81cm. Estimate 9,000,000—14,000,000 GBP. Lot Sold 16,281,250 GBP to an anonymous. Record for the artist at auction. photo Sotheby's
The subject of much excitement, André Derain’s great Fauve painting, Arbres à Collioure, from 1905, attracted numerous bidders, selling for a remarkable £16,281,250 ($24,005,075 / €19,521,241) – almost double the previous record for the artist ($14m/ £8.6m at Sotheby’s New York last November), and a new record price for any Fauve painting at auction.
Discovered, together with a substantial group of other works, in a Paris bank vault in 1979, the painting was part of the extraordinary holding of the legendary art dealer Ambroise Vollard – a man who was at the heart of the avant-garde developments that were happening in Paris in the early 20th century. Having lain forgotten in a Paris bank vault for some 40 years, the painting was offered for sale tonight by the heirs of Ambroise Vollard. Further works from the Vollard safe will be offered at Sotheby’s Paris on June 29th.
Helena Newman, Vice-Chairman of Sotheby’s Impressionist & Modern Art at Sotheby’s and Director of the Evening, said: “The strong, fauve colours and powerful composition of the Derain painting, combined with its extraordinary provenance, proved extremely appealing to tonight’s bidders.”
Other notable prices this evening:
Completely fresh to the auction market, Henri Matisse’s Odalisques jouant aux dames sold for £11,801,250 ($17,399,763 / €14,149,715). Created during the artist’s most accomplished period as a colourist, it is an iconic work painted in Nice in 1928.
Painted circa 1927-28, Chaïm Soutine’s powerful and expressive Le Valet de chambre - one of a number of portraits of anonymous sitters in uniform which rank among the most powerful in Soutine’s oeuvre - made £7,881,250 / $11,620,250.
Pierre Bonnard’s, Le Petit Déjeuner, Radiateur, executed in Le Cannet, in the South of France, circa 1930, made £6,201,250 against an estimate of £2.5-3.5 million.
A second work by Edouard Manet, Bouquet de pivoines, soared above its estimate of £4-6 million to realise £7,657,250 ($11,289,849 / €9,181,053). Prior to this evening, the painting had not appeared on the auction market for 20 years, when it was sold for $4.4 million, establishing a record for a still-life painting by Manet, which remained unchallenged until this evening.
Henri Matisse (1869 - 1954), Odalisques jouant aux dames, oil on canvas, 1928, 50 by 65cm.50 by 65cm. Estimate 10,000,000—15,000,000 GBP. Lot Sold 11,801,250 GBP to a private collector. photo Sotheby's
Chaïm Soutine (1893 - 1943), Le valet de chambre, oil on canvas, circa 1927-28, 109.2 by 63.5cm. Estimate 7,000,000—9,000,000 GBP. Lot Sold 7,881,250 GBP to a private collector. photo Sotheby's
Pierre Bonnard (1867 - 1947), Le Petit déjeuner, radiateur, oil on canvas, circa 1930, 72 by 84cm. Estimate 2,500,000—3,500,000 GBP. Lot Sold 6,201,250 GBP to an anonymous. Record for the artist at auction. photo Sotheby's
Edouard Manet, Bouquet de pivoines, oil on canvas, 1882, 55 by 42cm. Estimate 4,000,000—6,000,000 GBP
Lot Sold 7,657,250 GBP to an Asian private collector. Record by medium. photo Sotheby's
Drawings also performed exceptionally well.
Henri Matisse’s stunning Étude pour ‘nu rose’ brought a price of £5,865,250 /$8,647,725 / €7,032,442 – almost double the previous record for a drawing by the artist.
Three drawings of Dora Maar by Pablo Picasso made a total of £2,923,750 / $4,310,777 against a pre-sale estimate of £1,150,000-1,650,000.
Henri Matisse (1869 - 1954), Étude pour ‘Nu rose’, charcoal on paper, 1935, 47.8 by 67.5cm. 1,500,000—2,500,000 GBP Lot Sold 5,865,250 GBP to an anonymous. Record for Matisse charcoal and work on paper, excludint a paper cut out by the artist. photo Sotheby's
Pablo Picasso (1881 - 1973), Portrait de Dora Maar endormie, 37.6 by 50.8cm. Estimate 400,000—600,000 GBP. Lot Sold 1,161,250 GBP. photo Sotheby's
Pablo Picasso (1881 - 1973), Portrait de Dora Maar pensive, 31 by 40.2cm. Estimate 350,000—450,000 GBP. Lot Sold 993,250 GBP. photo Sotheby's
Pablo Picasso (1881 - 1973), Portrait de Dora Maar de profil, 41 by 30.5cm. Estimate 400,000—600,000 GBP. Lot Sold 769,250 GBP. photo Sotheby's
Three others best results:
Pablo Picasso (1881 - 1973), Buste de Matador, oil on canvas, 1970, 130 by 97cm. Estimate ,000,000—7,000,000 GBP. Lot Sold 5,305,250 GBP to an anonymous. photo Sotheby's
Pablo Picasso (1881 - 1973), Nature morte à la bougie, oil on canvas, 1944, 60 by 92cm. Estimate 2,500,000—3,500,000 GBP. Lot Sold 2,617,250 GBP to a private collector. photo Sotheby's
Max Beckmann (1884 - 1950), Frau im Bett (Woman in Bed) oil on canvas, 1932, 40 by 80cm. Estimate 1,200,000—1,800,000 GBP. Lot Sold 2,169,250 GBP to an anonymous. photo Sotheby's