Latin American art sells for nearly $ 23m at Christie’s auction

Christie’s on Wednesday wrapped up one of its biggest auctions of Latin American art at $ 22.7 million, with seven Cuban painters drawing record prices as interest in the region’s artists climbs.

In a two- day sale, Christie’s auctioned nearly 300 lots of five major private collections. Although the total came in be- low the expected $ 30 million, it was still one of the auction house’s largest takes for Latin American art.

“There were strong results for the collection of Cuban works belonging to a single owner, with active bids that earned many lots more than double the initial estimates,” Virgilio Garza, Christie’s Latin American art chief, said in a statement.

“This auction means that modern Cuban painting is back,” he added.

Buyers from 36 countries took part in the bidding.

Watermelons by Mexican artist Rufino Tamayo, an almost abstract work of explosive colors, drew the highest sale price: $ 2.16 million after a telephone fight between two buyers.

Seven Cuban artists obtained record prices for their works – six modernists and one contemporary – including Mariano Rodriguez for Cockfight which was sold for $ 1.08 million.

Most of the Cuban works came from a Cuban- American seller living in Florida who amassed an impressive collection of modern Cuban art for more than 30 years.