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French Get Minimal

June 10, 2010 by Marion Maneker

The Art Newspaper reports on Artcurial’s late May sale of Modern and Contemporary art that was heavy on–32 lots–conceptual and minimalist art from one collection. The whole lot brought in €6.13m, well over the estimate but helped greatly by the sale of a Calder mobile:

After fierce bidding, the work went to a Swiss collector for €2.3m including buyer’s premium, against a pre-sale estimate of €500,000-€800,000, the top price of the evening and an auction record for Calder in France. The artist’s market has remained steady despite economic fluctuations, with a similar mobile, Untitled (Autumn Leaves), sold earlier this May at Sotheby’s New York for $3.7m.

The total for the evening, at €6.13m, was almost 30% above the estimate of around €4.8m. But once the Calder was sold half-way through the sale, an initially packed saleroom thinned out and momentum died. The second day of the sale, on 1 June, brought in just €1.8m, in line with an estimate of €1.6m, with only 57% of lots finding buyers.

€2.13m Calder Mobile Sets Auction Record for Artist in France (The Art Newspaper)

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Filed Under: Auction Results

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