Matisse's “Le 14 Juillet 1920 à Etretat” fetched its reserve price of £ 1,98 million while a record price of £ 619 500 was recorded for Belgian artist Henri Jacques Edouard Evenepoel for his “Au Moulin Rouge” painted in 1897 two years before his death at 27.
A sale of Surrealist works at Christie's yielded £ 7,6 millions thanks to a strong contingent (85%) of European buyers.
Magritte, whose work was on the cover of the sale catalogue remained unsold but André Masson's “Les Ombres” of 1927 reached a stunning price of £ 333 750. Salvador Dali's “ Apparition de la ville de Delft” painted between 1935 and 1936 fetched £ 1,48 million, three times its high estimate.
Meanwhile, Sotheby's sale of Surrealists paintings only brought a turnover of £ 2,14 millions with only 58,8 % of lots sold. Estimated at £ 1,5 million, Dali's “La Musique ou l'Orchestre rouge” of 1957 reproduced on the cover of the sale catalogue remained unsold while a Leonora Carrington's Neo-Gothic work went for £ 421,500, four times its high estimate.
Overall, and with regard to the economic situation and the repercussions of the September 11 terrorist attacks against the United States, the market for Impressionist and modern works fared rather satisfyingly in London during the past week.
A sale organised by Christie's on February 4th 2002 in London yielded several million pounds for three modern and Impressionist paintings sold on behalf of the Capuchin order in Rome.
The three paintings by Monet, Renoir and Vlaminck, offered to the Capuchin order by a wealthy Italian collector, yielded £ 11 million ($ 15,69 million ). The proceeds will enable the religious order to finance charity operations in Ethiopia, Tanzania, Costa-Rica, Colombia, Ecuador and Brazil.
Vlaminck's 1906 “La Seine à Chatou” Fauve painting had previously been bought by French film star Alain Delon for $ 7,15 millions in 1989. This work measuring 74 x 91,5 cm doubled its estimate to reach £ 7,15 millions ($ 10,2 millions), a price signalling the present craze for Fauve works.
"L'Estaque”, an oil on canvas painted in 1882 by Renoir went for £ 2,2 millions and Monet's “Golf d'Antibes” executed in 1888 fetched £ 1,65 million during that sale which recorded a good turnover of £ 37 millions (£ 41,2 millions inclusive of buyers' premiums).
This time, European buyers (60%) outnumbered the American representation (30%) though Impressionist works proved harder to sell than modern pieces.
Soutine's landscape in Cagnes doubled its estimate to fetch a record price of £ 1,5 million for the artist whereas a 1913 work by Franz Marc depicting two horses went for £ 1,3 million, a record price for a painting on paper regarding this Expressionist painter.
Cézanne's “Maisons à Valhermeil, vues en direction d'Auvers-sur-Oise” fetched £ 2,7 millions while Monet's “Prairie de Limetz” painted in 1889 and for which London dealer Richard Green reportedly paid £ 2,9 millions a few years ago went also for £ 2,7 millions. However, a work by Caillebotte remained unsold.
On February 5th, Sotheby's recorded £ 15,7 millions for a sale of modern works, including a superb Fernand Léger oil on canvas of 1924 titled “Le Siphon”, which fetched £ 2,53 millions.
A collector acquired for £ 751,500, four times its high estimate, a ravishing 1867 oil by Eugène Boudin titled “On the beach” while Pierre Bonnard's female nude seen from the back went for £ 883 500.
Matisse's “Le 14 Juillet 1920 à Etretat” fetched its reserve price of £ 1,98 million while a record price of £ 619 500 was recorded for Belgian artist Henri Jacques Edouard Evenepoel for his “Au Moulin Rouge” painted in 1897 two years before his death at 27.
A sale of Surrealist works at Christie's yielded £ 7,6 millions thanks to a strong contingent (85%) of European buyers.
Magritte, whose work was on the cover of the sale catalogue remained unsold but André Masson's “Les Ombres” of 1927 reached a stunning price of £ 333 750. Salvador Dali's “ Apparition de la ville de Delft” painted between 1935 and 1936 fetched £ 1,48 million, three times its high estimate.
Meanwhile, Sotheby's sale of Surrealists paintings only brought a turnover of £ 2,14 millions with only 58,8 % of lots sold. Estimated at £ 1,5 million, Dali's “La Musique ou l'Orchestre rouge” of 1957 reproduced on the cover of the sale catalogue remained unsold while a Leonora Carrington's Neo-Gothic work went for £ 421,500, four times its high estimate.
Overall, and with regard to the economic situation and the repercussions of the September 11 terrorist attacks against the United States, the market for Impressionist and modern works fared rather satisfyingly in London during the past week.
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