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Sotheby’s Imp-Mod Day Sale Down 27% From 2015

November 16, 2016 by Marion Maneker

picabia-port-de-mer-dans-le-midi-800-1-2m-1-93m-usd

This Francis Picabia work from 1907 topped Sotheby’s day sale lots of Impressionist and Modern art. A Diego Giacometti table actually sold for ten-times the estimate to make $3.8m and a Chaim Soutine painting from Taubman collection was right behind the Picabia at $1.8m.

More telling, the sale represented a 27% drop from last year’s same event which took in $53.3m. As big as the reduction in sales volume is, it actually represents a smaller percentage drop than the broader market.

More from Art Market Monitor

  • Looking for Signs in Sotheby’s £87.5m London Imp-Mod Evening SaleLooking for Signs in Sotheby’s £87.5m London Imp-Mod Evening Sale
  • Sotheby’s Shows the New Hybrid Model Can Produce Strong Numbers During a Muted SaleSotheby’s Shows the New Hybrid Model Can Produce Strong Numbers During a Muted Sale
  • Sotheby’s Solo Imp-Mod Sale in London = £148.9mSotheby’s Solo Imp-Mod Sale in London = £148.9m
  • London’s Imp-Mod Sales Rise 59%, Near 2014 Peak SalesLondon’s Imp-Mod Sales Rise 59%, Near 2014 Peak Sales
  • Sotheby’s London Imp-Mod Day = £19mSotheby’s London Imp-Mod Day = £19m
  • And Just Like That: The Art Market is Fine AgainAnd Just Like That: The Art Market is Fine Again

Filed Under: Auction Results Tagged With: Impressionist, Modern, Sotheby's

About Marion Maneker

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