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Sotheby's Paris sale of Contemporary art soars above estimate, fetches $ 15,098,358
Jean-Michel Basquiat, MP, signé, daté et titré au dos, acrylique et collage de papiers Xerox sur toile, 218 x 172,5 cm; 85 13/16 x 67 3/4 in. Exécuté en 1984. Vendu: 1,296,750 €.
PARIS.- In a packed saleroom Sotheby’s 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 Sotheby’s 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.”

AUCTION HIGLIGHTS:
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 artist’s 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 Basquiat’s 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 Cragg’s 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-Ki’s 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.



Today's News

December 11, 2011

First ever exhibition in Australia dedicated to Renaissance paintings opens in Canberra

Sotheby's Paris sale of Contemporary art soars above estimate, fetches $ 15,098,358

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