NEW YORK, NY.-
Yesterdays evening session of Latin American Art at Sothebys
brought a strong total of $19,275,250, nearly reaching the high estimate (est. $16.2/19.8 million*) and with 89% of lots sold. The sale was led by Mattas Nada, which sold for $1,818,500, well within estimate (est. $1.5/2 million). Six new artist records were achieved tonight for Claudio Bravo, Dr. Atl, Jesús Rafael Soto, Gego, Guiseppe Leone Righini, and Pietro Gualdi in addition to a the highest price for a piece of Latin American colonial art at auction. The auction continues tomorrow morning at 10 am.
Axel Stein, Director of Latin American Art at Sothebys commented: Our strong sell through rate in this evenings sale demonstrates the demand for Latin American art across all periods and mediums. We set six artist records ranging from a 17th century colonial portrait, to mid-century Venezuelan Jesús Rafael Soto to Contemporary artist Claudio Bravo, among others. Our total of $19.3 million was among the highest for a Latin American Art Evening Sale at Sothebys. The great result for Nada by Matta reinforces the continuing appeal of the Chilean master, while Surrealist works by Wifredo Lam and Remedios Varo also achieved strong prices. I was also delighted to once again see stiff competition for Latin American Abstraction, which showed that demand for these artists continues to grow, along with important Mexican National Patrimony paintings that were viewed and competed for fiercely by collectors in Mexico.
In addition to Nada two additional works by Matta also brought strong prices this evening - Les Vitamerdres de LSpace sold for $302,500 (est. $200/300,000) and Fidele à la terre (Composition 80F) achieved $218,500 (est. $125/175,000). Other Surrealist highlights of the evening included Wifredo Lams, Charbon de Mer, a rare and dynamic, blue and white composition from 1945, which sold for $542,500 (est. $400/600,000) and Remedios Varos Retrato de los niños Andrea y Lorenzo Villaseñor from 1956, which had never appeared at auction and sold for $518,500 ($200/300,000).
Continuing a trend witnessed over the course of the past few seasons, Latin American Abstraction inspirited considerable competition this evening. All four works by Jesús Rafael Soto sold for a total of $2,038,000, exceeding expectations (est. $1.4/1.8 million). Chief among the works on offer was La Scie a Metaux, which set a new record for the artist at auction with a price of $1,082,500, also above the high estimate ($700/900,000). Gegos 1971 construction Reticulárea Cuadrada sold for $638,500 (est. $500/700,000) to set a new record for the artist at auction. It has been in a private collection in Caracas since it was acquired directly from Gego after completion.
Works from Mexico were also in demand with a new record set for Dr. Atl when his Mañana luminosa from 1942 sold for $1,650,500, more than five times the previous record for the artist at auction (est. $1.5/2 million). The 17th century Portrait of Moctezuma II, one of the most important pieces of Mexican colonial art to appear at auction also brought $1,650,000 after competition from two determined bidders to set a record for a piece of Latin American colonial art at auction.
Claudio Bravos Angelis was also among the top ten works sold this evening, achieving a price of $1,510,500, a new record for the artist at auction (est. $900,000/1.2 million), while Gatos con pesadillas by Francisco Toledo, the most important living Mexican artist, sold for $602,500 (est. $500/700,000).
New Artist Records
Claudio Bravo: Lot 11, Angelis, $1,510,500
Guiseppe Leone Righini: Lot 13, A Panoramic View of The Bay of Belém do Pará, Brazil $302,500
Dr. Atl: Lot 14, Mañana luminosa, $1,650,500
Pietro Gualdi: Lot 15, Hacienda Nueva de Fresnillo con el Cerro de Proaño, Zacatecas Mexico, $266,500
Gego: Lot 32 Reticulárea Cuadrada, $638,500
Jesús Rafael Soto: Lot 33, La Scie a Metaux, $1,082,500
New Records by Medium
Mario Carreño, for a work on paper: Lot 1, Cuarto Fambá, $86,500
*Estimates do not include buyers premium