A sharp market watcher alerted us to the fact that Peter Doig’s The Architect’s Home in the Ravine (1991) is coming back to the auction block at Sotheby’s in London next month. The painting has been sold four times before. It often reappears on the market after there has been a significant resetting of Doig’s prices.
In 2017, we saw three of Doig’s works sell for more than $20m, including the top price of nearly $29m. So it might have been inevitable that this work would test the market again:
2002 = £314,650 ($475,733)
2007 = $3,624,000
2013 = £7,657,250 ($11,899,378)
2016 = £11,282,500 ($16,304,191)
2018 = Estimate £14-18m