It’s been a while since we’ve heard any more of the rumblings that Paris would continue to gain in market strength but Sotheby’s has quietly reinforced the idea with these results from their Impressionist, Modern and Contemporary sales:
New auction records were established for paintings by Pierre Soulages and Nicolas de Staël in the Contemporary Art Evening Sale, and 11 works sold for more than €1 million ($1.4 million) and eight works sold for more than $2 million.
Impressionist and Modern Art Sale
Total: €16.142.675 – $23.316.480
Estimate: €12.536,000 – 18.096,000 / $18.107.000 – 26.137.900
66.3% sold by lotContemporary Art – Grand total
Total: €24.850.825 – $35.741.450
High Estimate: €16.816.800 – $24.186.600
85.6% sold by lot
61% achieved sums in excess of their pre-sale high estimatesContemporary Art – Evening Sale
Total: €19.274.750 – $27.721.710
High Estimate: € 12.690.000 – $18.251.270
96.2% sold by lotContemporary Art – Day Sale — Record for a Contemporary day sale at Sotheby’s Paris —
Total: €5.576.075 – $8.019.734
High Estimate: €4.126.800 – $5.935.330
83.6% sold by lot61% achieved sums in excess of their pre-sale high estimates
