News Flash; NYC Auction Market Update

 Last week, Sotheby’s White Glove Emily Fisher Landau sale totaled $406 million, generating one of the highest totals for a single-owner collection at auction. Although almost a third of lots failed to reach their low estimates, the sale still set records for Agnes Martin and Mark Tansey. Agnes Martin’s Grey Stone II (1961) sold for $18.7 million including fees, exceeding her former record of $17.7 million. The previous evening, Christie’s held its first evening sale of November, which featured 21st century works and totaled $88 million (before fees) – $8 million below its presale estimate. Instead of Twombly or Basquiat, it was contemporary female figurative painters like Jadé Fadojutimi, Stefanie Heinze, and Jenny Saville who set records. Another highlight from last week was Christie’s 20th century evening sale, which totaled $640.8 million and sold 97% by lot. Christie’s Marquee Week grossed $864 million, including a $74 million sale of Monet’s Le bassin aux nymphéas (1919), and set a total of 16 artist records.

 

November 15, 2023