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OVER 31 MILLION EUROS FOR SOTHEBY'S CONTEMPARY ART SALES IN PARIS
12 December 2016
Category : MARKET

Sotheby's achieved their best result in the field of Contempary art in France since 2001 with a sale held in Paris on December 6 and 7 which totalled €29,049,750, exceeding its presale estimate of €16-23 million, while contemporary artworks from an Italian collection achieved €1,853,500.

 

The core of the sale consisted of abstract art from the 1950s to the 1970s, including a powerful painting by Simon Hantaï, and two from Pierre Soulages, masterpieces rarely seen at auction. The highest price of the evening sale went to a monumental canvas by Pierre Soulages, Peinture 162 x 130 cm, 14 décembre 1958, which was eagerly pursued by 14 international bidders, who drove bidding all the way up to €5,220,000 – well above the high estimate. This result rivals the world record for the artist set by Sotheby's in London in June 2013 and is the second highest price for his work.

 

The second-highest price of the evening sale, m.a.4, the only red Mariale Simon Hantaï ever painted, was contested by five bidders, ultimately selling for €4,432,500, doubling its high estimate. Works from this series rarely come to the market, and of the 27 paintings composing the group, a third already belong to museums. With this result, m.a.4 exceeded the artist's previous world record, obtained for m.a. 5 in December 2013 at Sotheby's Paris (€2.5 million).

 

Last June Sotheby's confirmed once again its leadership in France for Contemporary Art during the Evening sale. Masterpieces from French artists such Jean Dubuffet, Yves Klein, Jean Tinguely or Pierre Soulages achieved exceptional prices.

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