Sotheby’s sale sets Manet record as art lifts itself out of the doldrums
SOTHEBY’S recently sold an Edouard Manet self-portrait for £22.4 million (R250m), a record for the artist, but towards the lower end of pre-sale expectations of £20-30m.
The painting, one of only two self-portraits by the artist and the only one in private hands, was the centrepiece of the auctioneer’s main Impressionist and modern art sale in London this summer.
Overall, the auction fetched £112.1m, within expectations of £101-148m, although the sale tally included buyer’s premiums while the estimate did not.
Three works of art sold for eight figures – Manet’s SelfPortrait With a Palette, Andre Derain’s Arbres a Collioure, which sold for £16.3m, double the previous record for the artist, and Henri Matisse’s Odalisques jouant aux dames ( £ 1 1 . 8 m) . S o t h e by ’ s said the results were strong, although the auction total was smaller than the equivalent sale in London in February which raised £146.8m.
Alberto Giacometti’s L’homme qui marche I sold for £65m, which was then a world record for any work of art at auction. Christie’s, Sotheby’s main rival, holds its main sale on Wednesday, and expects to sell art worth £164-231m.
If it makes even the lower end of the target, it would set a record for an art sale in London. – Reuters
EIGHT FIGURES: Manet self-portrait sets new record.