2025
La Belle Rafa毛la by 鈥榬evolutionary鈥� art deco painter to go on sale at Sotheby鈥檚 with estimate of 拢6m-拢9m
On May 21, Sotheby鈥檚 New York hosted an auction replete with stunning paintings by Old Masters.
A recent Sotheby鈥檚 sale of 55 Old Masters works, collected over decades by Jordan and Thomas A. Saunders III, yielded just $64.7 million, far below the initial estimate of $80 million to $120 million.
The sale achieved a 62% sell through rate and made new auction records for Luis Mel茅ndez and Frans Post.
The spring auction season ended with a miss, as Christie鈥檚, Sotheby鈥檚, and Phillips collectively fell short of even their most modest expectations.
Sotheby鈥檚 three-part evening sale on Thursday in New York generated a total of $186.1 million on 68 lots, coming towards the high end of its $141 million to $204.9 million estimate.
Works from the collections of Barbara Gladstone and Daniella Luxembourg, record-setters by Fontana and Armitage and a $16.4M Basquiat helped drive strong results for the auction house.
Works from the estate of Barbara Gladstone and the home of Daniella Luxembourg鈥攑lus a litter of Lichtensteins鈥攅nergised last night's marquee auction of post-war and contemporary art.
Top artists like Jean-Michel Basquiat, Richard Prince, Andy Warhol, and Roy Lichtenstein were in demand from selective buyers in New York this week.
Sotheby鈥檚 modern art evening sale in New York on Tuesday night collectively hammered at $152 million, or $186.4 million with buyer鈥檚 premium, across 60 lots.
Meanwhile, Phillips delivered a more confident performance than expected, with new records set for artists including Ilana Savdie, Olga de Amaral and Grace Hartigan.
The prize lot, a bust depicting the artist鈥檚 brother Diego, failed to attract bidders during the $186.4m sale.
There were gasps, and a pall came over the entire salesroom.
A 1955 bronze bust by Alberto Giacometti estimated at $70 million failed to sell at Sotheby鈥檚 modern evening auction in New York on Tuesday.
A 1955 bronze bust by Alberto Giacometti that carried a $70 million failed to find a buyer at Sotheby鈥檚 modern evening auction in New York on Tuesday.