A Sober Night at Christie’s

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

The New York Sun

Last night’s Impressionist and Modern art sale at Christie’s was a well-oiled machine that offered little excitement. The sale totaled $236,464,000, slightly below the high estimate of $245 million, with 87% of the 78 lots sold. Records were set and a substantial number of the lots sold above the auction house’s high estimate, but many of the evening’s most anticipated pictures sold below the low estimates — or even failed to find buyers. The disappointments suggest that some sobriety may have crept into an otherwise reeling art market.

Paul Signac’s “Arriere du Tub” (1888) set a new auction record for the artist at $11.688 million (record prices reflect the hammer price plus the buyer’s premium), nearly twice the artist’s previous record. Juan Gris’s “Pot de geranium” (1915) broke a new barrier at $18.5 million but did not beat Christie’s own high estimate. Alberto Giacometti’s “L’homme qui chavire” (1950) surpassed the sculptor’s previous record with a sale of $18.5 million. And Maximilien Luce set a new mark of $2.84 million with “La Seine au pont Saint-Michel” (1900).

That was the good news.

The not-so-good news was that Modigliani and Matisse continued their losing streak begun the night before at Sotheby’s. Modigliani’s “La femme au collier vert” (1918), estimated at $12 million–$16 million, failed to sell, causing a swath of the audience to decamp like fight fans after a TKO in the first round.

Matisse’s “Jeune femme assise en robe grise aux bandes violettes” (1942) did not sell. But the lower priced — and more interesting — “Torse de jeune fille” (1918) sold above the high estimate of $2 million.

Ludwig Kirchner’s “Dodo mit grossem fächer” (1910) sold just below the low estimate of $12 million, despite the house’s enthusiasm for it.

Other bright spots in the evening were works by Monet and Chagall and Giacometti, whose “Femme de Venise I” was knocked down at a very solid $7.2 million.


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