Sotheby’s November auctions in New York kicked off on November 18 with solid results across its Evening Sales. It amassed $309 million—a 30% increase from last year’s total of $223.4 million. This year’s success was primarily due to the collection of Sydell Miller, the beauty mogul whose items achieved $216 million, surpassing the high estimate of $205 million.
Monet Led the Highlights
However, the real star of the evening was Claude Monet’s Nymphéas of 1914–1915, one of his series of water lilies. It sold for $65.5 million after a 17-minute bidding war by an Asian buyer represented by Sotheby’s Asia Deputy Chairman Jen Hua. The second full highlight was the work by Wassily Kandinsky, Weisses Oval of 1919, which fetched $21.6 million, above the high estimate, supported by positive pre-sale recommendations. Likewise, an iconic blue sponge piece, Yves Klein’s Relief Éponge bleu sans titre (RE 28), from 1961, sold for $14.2 million, picked up by Miller from Acquavella Gallery in 2001.
Lalanne and Decorative Arts Impress
The fanciful François-Xavier Lalanne Troupeau d’Éléphants dans les Arbres Table surprised bidders, selling for $11.6 million against a $4–6 million estimate. Two other works by Lalanne, gold-patinated bronze and glass consoles, sold for $3.84 million and $2.16 million, each well over estimate. These one-of-a-kind designs called out a growing interest in high-end decorative art.
Other Strong Performances
Notable results were extended to Henry Moore’s Reclining Mother and Child (1975–1976), which sold for $11.6 million, and Henri Matisse’s Jeune fille en robe rose (1942), which achieved $9.73 million, well above its estimate. An untilled oil on paper by Mark Rothko realized $5.16 million, more than double its high estimate. Along with other pieces that comprised Miller’s collection, these lots expressed continued demand for high-quality works.
Challenges in the Modern Evening Sale
Yet Sotheby’s Modern Evening Sale was more hit-or-miss, pulling in $92.9 million against a 77% sell-through rate; seven of 33 lots went unsold, including key works by Pablo Picasso and Sam Francis that were withdrawn. Henri Matisse’s Torse de jeune fille (1921–1923) did not sell despite a $12–13 million estimate and a guarantee, one of the evening’s disappointments.
Carrington and Surrealism Shine
In counterpoint, Leonora Carrington’s Grande Dame, 1951 – a breathtaking sculpture- realized an $11.4 million estimate following frantic bidding. The piece was bought by Argentinian collector Eduardo Costantini, who intends to showcase it at the MALBA Museum of Latin American Art of Buenos Aires. Carrington’s Temple of the Word, 1954, fetched $4.56 million. Works by fellow female Surrealists, including Remedios Varo’s Los caminos tortuosos (1958) and Leonor Fini’s Les Stylites (1934), exceeded their estimates, reflecting a growing appreciation for Latin American and female Surrealist art.
Giacometti and Modernist Masters
Alberto Giacometti’s Buste (Tête tranchante) (Diego), a bronze sculpture of his brother, achieved $13.2 million, within its $10–15 million estimate. Other notable results included Paul Signac’s mosaic-like Antibes, La Pointe de Bacon (1917), which fetched $9.95 million, and Henri-Edmond Cross’s Eucalyptus et Olivier, selling for $1.38 million.
Tiffany Stained Glass Sets a Record
A surprising evening highlight was Louis Comfort Tiffany’s Danner Memorial Window, an overwhelming stained glass work. The piece reached $12.48 million, marking a record for Tiffany’s works at auction. Its vibrant colour and intricate design captivated bidders during a six-minute battle.
Summary of Market Trends
Despite some setbacks in the sale of Modern Sales, the strong results of Sydell Miller’s collection and standouts like Monet’s Nymphéas reflect continued buyer interest in fresh-to-market, high-quality works with exceptional provenance. The evening also underlined growing enthusiasm for female Surrealists and Latin American art. Sotheby’s success underlines the significance of securing premier consignments and curating exacting sales strategies to appeal to an increasingly discerning buyer.
With Sotheby’s setting a robust tone for the auction season, the focus in the art market now shifts to Phillips and Christie’s upcoming sales, promising further excitement.