PARIS.- The energy and excitement in Paris was palpable at Sotheby’s, as the company achieved its highest ever total in France for a Surrealist art sale and a Modern art sale. Together, Modernités and Surrealism and Its Legacy brought a combined total of €89.7m / $104m, up more than 50% on the same series held last October. The unprecedented result also marks the highest total ever achieved for a various owner sale series at Sotheby's Paris. Leading the results, a work by Amedeo Modigliani set a new record for a painting by the artist sold at auction in France (€27m / $31.3m). Elvire en buste also became the most valuable work of art ever sold by Sotheby’s in Paris. Both auctions were presented by the Parisian house CELINE.

Overarching Figures

● Combined sale total: €89.7m / $104m (est. €53.1-75.2m / $61.6-87.2m), up 52% on last October

● 90% sold by lot

● 5 artists set new records for their works sold at auction in France: Amedeo Modigliani, Paul Delvaux, Óscar Domínguez, Konrad Klapheck, Wols

● 61% of lots made their auction debut

● 6 works by Roy Lichtenstein - fresh to the market from the Collection of Dorothy and Roy Lichtenstein - totalled €5.3m / $6.1m (est. €4.3-6.1m)

○ The sale brings the running total for works sold from the estate to $128.4m, far exceeding the combined pre-sale estimate of $69.8-100.6m

Modernités

● Sale total: €62.8m / $72.8m (est. €35.9-50.7m / $41.6-58.8m)

● 85% sold by lot

● Key Results:

○ Amedeo Modigliani’s Elvire en buste - held in the same private collection since 1974 and marking the first ever appearance of a portrait of Elvira by Modigliani at auction - ignited spirited competition between 7 bidders, driving the final price to €27m / $31.3m (est. €5.5-7.5m)

■ Record for a painting by the artist sold at auction in France

○ Raymond - a second work by Modigliani, thought to portray the young novelist Raymond Radiguet and held in the same private collection for more than 65 years - soared to €10.6m / $12.4m after a spirited, ten-minute bidding battle (est. €5.5-7.5m)

○ Alberto Giacometti’s Figurine far exceeded its estimate to sell for €571,500 / $663,540 (est. €200,000-300,000)

○ Wols’ L'Oeil de Dieu realised €1.9m / $2.2m (est. €1.5-2m) - highest price achieved for the artist at auction in France

○ Pablo Picasso’s Séries 347, the rare complete set of 347 etchings executed in 1968, sold for €1.9m / $2.2m (est. €1.2-1.6m) - auction record for any print or series of prints by Picasso sold at auction in France

Surrealism and Its Legacy

● Sale total: €26.9m / $31.2m (est. €16.3-23.4m / $18.9-27.1m) - second highest ever total for a Surrealist art sale at Sotheby’s in France

● Sold by lot: 97%

● 70% of lots sold achieved prices above their high estimate

● American collectors accounted for a third of the lots acquired

● Continued demand for Surrealist art, following the exceptional results achieved at Sotheby’s in London in September with the Pauline Karpidas Collection (£101m / $137m)

● Key Results:

○ Strong demand for René Magritte:

■ La magie noire was pursued by three determined bidders, taking the final price to a double estimate €10.7m / $12.4 (est. €5-7m) - an auction record for a ‘magie noire’ by the artist

■ Ceci est un morceau de fromage surpassed its estimate to bring €1.9m / $2.2m (est. €1-1.5m)

■ La malédiction saw its price soar to €952,500 / $1.1m - more than 3x its high estimate (est. €200,000-300,000)

○ Paul Delvaux’s Woman with a Rose sold for €2.4m / $2.7m (est. €2-3m) - highest price achieved for the artist at auction in France

○ Óscar Domínguez’s Paysage fantastique exceeded its estimate, achieving €990,600 / $1.2m (est. €650,000-850,000) - highest price achieved for the artist at auction in France

○ Konrad Klapheck’s Der Mustergatte (The Ideal Husband) far exceeded its high estimate to bring €825,500 / $957,580 (est. €400,000-500,000) - record for a work by the artist sold at auction in France

○ Salvador Dalí’s Swirling Sea Necklace from the Schlumberger Collection sold for €736,600 / $855,229 (est. €300,000-500,000)

○ Francis Picabia’s Lu-Li more than doubled its high estimate to achieve €508,000 / $589,813 (est. €150,000-200,000)

○ Max Ernst’s Bosse de nage surpassed its high estimate to bring €292,100 / $339,143 (est. €150,000-200,000)