Sotheby's Paris recently held a successful modern and contemporary art sale. The event brought in €35 million ($41 million), significantly more than last year's sale. This total was the second-highest ever for Sotheby's in France for this category.
Many items sold for more than expected. Almost 63% of the lots went for prices above their high estimates. Also, 66% of the items were offered at auction for the first time.
Monet Paintings Lead the Sale
Two paintings by French Impressionist Claude Monet were the top sellers. Vétheuil, effet du matin (1901) sold for €10.2 million ($12.1 million). This set a new record for a Monet work sold at auction in France. The painting had not been seen publicly for about 98 years and had been owned by the same French family for over 50 years. It sold after 10 minutes of bidding, exceeding its estimated price.
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Start Your News DetoxMonet's Les Îles de Port-Villez (1883) also sold for a high price, reaching €6.5 million ($7.6 million). This painting, nearly three feet wide, was shown publicly for the first time in 115 years. It also surpassed its estimated value.
Thomas Bompard, co-head of modern and contemporary art at Sotheby's Paris, noted the strong results. He said the auction showed a confident market with collectors from around the world competing for pieces.
Other Notable Sales
Other artworks also performed well at the auction. A collection of seven original gouaches by Marc Chagall from his "Circus" series were offered for the first time. These came directly from the artist's estate. Two of them sold for €1.1 million ($1.4 million) each, above their estimates.
Concetto Spaziale, Attese (1968) by Lucio Fontana, a blue canvas with two vertical cuts, sold for €2 million ($2.4 million), also exceeding its estimate.
Several other works fetched six-figure prices and went above their estimates:
- Rembrandt Bugatti's bronze Tigre royal (conceived around 1913–14, cast 1922–1927) sold for €1.7 million ($1.9 million). It had been in the same private collection since 1927.
- Chu Teh-Chun's painting Le son des cuivres II (1988) doubled its high estimate, selling for €1.2 million ($1.4 million).
- Gerhard Richter's Untitled (9. Nov. 1995) sold for €473,600 ($558,659), nearly four times its high estimate.
