In a packed saleroom Sothebys
Paris Evening Auction of Contemporary Art soared above estimate to bring a total of 11, 282,250/$ 15,098,358 (est. 6,600,000- 9,370,000/ $ 8,832,384 / 12,539,309). There was competitive bidding throughout; all of the lots found buyers and three-quarters of the lots sold above their high estimates.
Commenting on his first evening sale as Director of Sothebys Contemporary Art department in Paris, Stefano Moreni said: Our presale strategy of sourcing works of high quality and distinguished provenance attracted collectors from all around the world and brought in many new buyers. Five of the ten top works were competed for by multiple bidders and achieved prices which doubled their high pre-sale estimates.
There was strong competition for an iconic work from a key period of Pierre Soulages career, Peinture 195 x 130cm 3 December 1956, a monumental work from the artists Polyptiques Latents which sold for 1,576,750/$2,110,070, well-above its pre-sale high estimate of 800,000-1,200,000 / $1,110,000-1,660,000.
Jean-Michel Basquiats MP, a monumental self-portrait-like figure painted in 1984, which had been off the market for over 25 years, commanded 1,296,750 /$1,735,363, exceeding its pre-sale estimate of 700,000-900,000/ $965,000-1,250,000.
A work of the utmost rarity by Yves Klein, COS31, nearly doubled its low pre-sale of 500,000-700,000 / $690,000-965,000 to achieve 983,150/$1,315,691. Produced in May 1960 the same year as the Nouveaux Réalisme manifesto and the patenting of International Klein Blue (IKB), the work combines cosmogony (natural imprint of reeds) and anthropometry (female body print).
A further work by Pierre Soulages, Peinture 162 x 130cm 13 November 1969, brought 840,750/ $ 1,125,125 (est. 400,000-600,000 / $555,000-830,000).
A top lot of the evening was Chu Teh-Chun's Sombres Nuées (1998/9), a monumental, incandescent work which fetched 744,750/ $996,654 (est. 400,000-600,000 / $555,000-830,000); while his Hivernal (1985), from his sought-after Snow cycle, realized 276,750/$370,358 (est. 120,000-180,000 / $166,000-249,000).
Martial Raysse's Espace Zéro, realized 480,750/ $643,359, against a pre-sale estimate of 300,000-400,000 / $414,000-555,000. With its fluorescent colours and red neon light, this work is an icon of Pop Art.
Tony Craggs Early Forms more than doubled the high estimate, and fetched 216,750/$290,064 (est. 60,000-80,000/ $83,000-111,000).
Zao Wou-Kis 12.12.67, a superb example of the imaginary and highly poetic landscapes he pioneered and perfected, sold for 432,750/$579,123, against a pre-sale estimate of 300,000-400,000 / $414,000-555,000.
Huang Yong Ping's Walking Up Language: a huge pair of Dadaist ceramic sculptures sold for 216,750/$290,064, well above its pre-sale estimate of 150,000-200,000 / $207,000-276,000.