This evening, Sothebys
final auction to be staged in the Netherlands, Part III of the sale of the world-renowned BAT ArtVenture Collection, formerly known as The Peter Stuyvesant Collection, realised a total of 1,214,904 / £1,040,605 / $1,608,776, a figure more than double pre-sale expectations of 500,000. Pre-sale interest had been remarkable and more than 240 clients registered to bid in tonights sale, which concluded to a round of applause after the auctioneers hammer fell on the final lot. The auction also established outstanding sell-through rates of 94.3% by lot and 98.2% by value.
These notable results further build on the outstanding success established by Sothebys Amsterdam with the sales of the first and second parts of the collection in 2010 and 2011. Including the sale of the first two parts, The BAT Artventure Collection, formerly known as The Peter Stuyvesant Collection has brought an outstanding combined total of 17,747,104 / £15,886,937 / $24,405,015, which represents the highest total achieved for any auction series ever staged in the Netherlands.
The top-selling lot of tonights auction was Patrick Herons Big Violet with Red and Blue: March 1955. Two telephone bidders competed for the oil on canvas, which brought 111,150, more than double the pre-sale estimate (est. 50,00070,000). Herons paintings of the mid 1960s and early 1970s are probably his most instantly recognisable works.
Commenting on the results of the sale, Rob Sneep, Senior Specialist of Sothebys Contemporary Art Department in Amsterdam, said: We are absolutely thrilled with this amazing result which is true testament to the desirability and quality of the works from this remarkable collection. In addition to bidding from the Netherlands in this evenings auction we also witnessed a extraordinary depth of international activity, which came from almost every corner of the globe. It has been a privilege for Sothebys to have handled the sale of this legendary corporate collection and the total achieved for the entire offering is perfectly fitting.
Mark Grol, Directeur Général Délégué for Sothebys Paris business and Sothebys executive responsible for overseeing the companys activities in the Netherlands, said: The outstanding results achieved this evening for the third and final part of the BAT sales series, and the overall result for the entire BAT collection, represent a fitting tribute to Sothebys final auction in the Netherlands, as the company transitions into a new phase of its presence in the country.
The second highest price established in tonights sale was for Adolf Luthers, Kinetisches Hohlspiegel Objekt. Three bidders competed for the 36 rotating, concave round mirrors of aluminium covered steel, which sold for 90,750, above pre-sale expectations (est. 40,00060,000).
Untitled by Japanese artist Atsuko Tanaka also performed exceptionally well, bringing the third highest price of the evening. Executed in 1964, the enamel paint on canvas work was hotly contested for and commanded 66,750, more than 20 times pre-sale expectations (est. 2,0003,000). The fourth highest price in tonights sale was also achieved for a work entitled Untitled, executed a year earlier in 1963, by Atsuko Tanaka, which brought the well-above expectations sum of 60,750 (est. 2,000-3,000).
Antony Donaldsons Bring it to Jerome established a new artist record with the price achieved of 27,150, almost ten times pre-sale expectations (est. 2,000-3,000); and Untitled by Jean Pierre Pincemin also performed very well - no fewer than six bidders on the telephone competed for his acrylic on canvas, which sold for 48,750, almost six times pre-sale expectations (est. 7,0009,000).
Sothebys and the Netherlands
While this evenings auction, which concludes the most successful Sales Series ever staged by any auction house in the Netherlands, represents the companys last auction in the country, Sothebys will retain a key presence in Amsterdam. Importantly, our Dutch clients remain vital to the companys international business and to continue providing them with the best level of service in the region Sothebys will maintain its presence in Amsterdam. Our goal is to further enrich the service we provide to all our Dutch clients, based in the Netherlands and abroad, who wish to transact in our global selling centres (New York, London, Hong Kong, Paris and Geneva) where the market is international and extremely focused on the sale of artworks of the highest quality. In the Netherlands, Sothebys will continue to provide services to its clients which include hosting travelling exhibitions of international auction highlights, lectures on collecting by Sothebys specialists, valuations, advice on transacting, and private treaty sales.
Guillaume Cerutti, recently appointed Deputy Chairman Sothebys Europe, will assume overall responsibility for the Netherlands, as well as France, Belgium and Italy. Mark Grol, who will be based in France in his new role as Directeur Général Délégué for the Paris business, will continue to work closely with the Amsterdam office and oversee Sothebys activities in the Netherlands.