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Results - Impressionist & Modern Art Evening Sale - Sotheby's New York, 2 November 2011

Results - Impressionist & Modern Art Evening Sale - Sotheby's New York, 2 November 2011

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Published by Gavel
Last night at Sotheby’s New York, the Impressionist & Modern Art Evening Sale achieved a strong $199,804,500, well within the overall pre-sale estimate of $167.6/229.9 million and eclipsing the total for the same sale in May 2011. The auction was 81.4% sold by lot, and saw a total of 39 works sell for over $1 million.



Gustav Klimt’s Litzlberg am Attersee (Litzlberg on the Attersee) was the top lot of the sale, achieving $40,402,500 after a prolonged bidding battle (est. in excess of $25 million), and auction records were set for Gustave Caillebotte, Tamara de Lempicka and Maxime Maufra.´”I have rarely felt a room as energetic as tonight” said Tobias Meyer, auctioneer of the evening sale.
Last night at Sotheby’s New York, the Impressionist & Modern Art Evening Sale achieved a strong $199,804,500, well within the overall pre-sale estimate of $167.6/229.9 million and eclipsing the total for the same sale in May 2011. The auction was 81.4% sold by lot, and saw a total of 39 works sell for over $1 million.



Gustav Klimt’s Litzlberg am Attersee (Litzlberg on the Attersee) was the top lot of the sale, achieving $40,402,500 after a prolonged bidding battle (est. in excess of $25 million), and auction records were set for Gustave Caillebotte, Tamara de Lempicka and Maxime Maufra.´”I have rarely felt a room as energetic as tonight” said Tobias Meyer, auctioneer of the evening sale.

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Categories:Topics, Art & Design
Published by: Gavel on Nov 03, 2011
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Impressionist & Modern Art Brings a Strong Total of Nearly $200 Million at Sotheby’s New York
RESTITUTED MASTERPIECE BY GUSTAV KLIMTACHIEVES $40.4 MILLION– Records Set for Gustave Caillebotte, Tamara de Lempickaand a Late Work by Pablo Picasso –
2 November 2011 –
Tonight at Sotheby’s New York, the Impressionist & Modern Art Evening Sale achieved astrong $199,804,500, well within the overall pre-sale estimate of $167.6/229.9 million and eclipsing the totalfor the same sale in May 2011. The auction was 81.4% sold by lot, and saw a total of 39 works sell for over $1million. Gustav Klimt’s
Litzlberg am Attersee (Litzlberg on the Attersee)
was the top lot of the sale,achieving $40,402,500 after a prolonged bidding battle (est. in excess of $25 million*), and auction recordswere set for Gustave Caillebotte, Tamara de Lempicka and Maxime Maufra.´”I have rarely felt a room asenergetic as tonight” said Tobias Meyer, auctioneer of the evening sale.
For Immediate Release
Press Release New York
New York
 
| +1 212 606 7176 | Lauren Gioia |Lauren.Gioia@Sothebys.com| Darrell Rocha |Darrell.Rocha@Sothebys.com 
London
 
| +44 (0)20 7293 6000 | Matthew Weigman |Matthew.Weigman@sothebys.com| Sarah Rustin |Sarah.Rustin@Sothebys.com 
 
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“The art market was alive and well at Sotheby’s tonight” said Simon Shaw, Head of Sotheby’s Impressionist &Modern Art Department in New York. “We put the sale together with discipline and rigor, and in some caseswalked away from consignments with aggressive estimates. The successes we had this evening showed thatthere is clearly a very great interest in rare works of art.”“The key to our success this evening was putting correct estimates on works we believed in,” continued DavidNorman, Co-Chairman of Sotheby’s Impressionist & Modern Art department worldwide. “By following ourinstincts and our combined knowledge, we estimated the Klimt landscape at around $25 million and sawcompetition from five bidders. The Klimt sold for over $40 million, coming close to the $43 million paid for aKlimt landscape last year.” Mr. Norman continued: “We were truly honored that we were entrusted by threegreat museums to sell their works this evening – the MFA Boston, the Israel Museum and The Menil Collection– and it was really gratifying to achieve strong results for them.”Klimt’s
Litzlberg am Attersee (Litzlberg on the Attersee)
wasbought by David Lachenmann, a private dealer from Zurich,who was bidding on behalf of a private collector who will remainanonymous and who acquired the work because it was “amasterpiece in perfect condition”. The work
 
follows the sale of Klimt’s landscape
Kirche in Cassone
(
Landschaft mit Zypressen
 )(
Church in Cassone – Landscape with Cypresses
 ), which set anauction record for a landscape by the artist when it achieved£26.9 million ($43.2 million) at Sotheby’s London in February2010 (est. $19/28.5 million).Both landscapes – originally in the famed collection of Austrian iron magnate Viktor Zuckerkandl and his wifePaula, and descended to Viktor’s sister Amalie Redlich – were stolen after the annexation of Austria in 1938.Both have since been restituted to Georges Jorisch, great-nephew of Viktor and grandson of Amalie, afterintensive research revealed that his memory of the works hanging in the family’s home in Purkersdorf wascorrect.
Litzlberg am Attersee
was returned to Mr. Jorisch this spring from the Museum der Moderne Salzburg,and a portion of the proceeds from its sale will be donated to that museum for the building of a new extensionto be named in Amalie Redlich’s honor.
 
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After the sale, Georges Jorisch said, “This was a beautiful evening and a very exciting moment when
Litzlbergam Attersee
was sold. I am very happy with the result and I hope the painting has gone into good hands.”Another key highlight of the evening was PabloPicasso’s
L’Aubade
from 1967, which set a newrecord for a late work by the artist when it sold for$23,042,500 (est. $18/25 million). Picasso paintedthree monumental works in June 1967 that focusedon the dialogue between a flautist and a nude, and thepresent and final iteration of this theme is among themost masterful depictions of lovers from the artist’slate oeuvre. The work was on offer from a private North American collection, having been purchased by thecurrent owner at Sotheby’s London in April 1979.A strong selection of Impressionist works in the sale were led byGustave Caillebotte’s
Le Pont d’Argenteuil et la Seine,
whichset a new auction record for the artist in achieving$18,002,500 – well in excess of its $12 million high estimate.Saturated with the brilliant blue, green and steely gray tones of the river at midday, the work is a stunning example of Impressionist landscape painting at its most progressive andvisually dynamic.Property from the Museum of Fine Arts, Boston also sawstrong results for classic Impressionist paintings. Each of the seven works on offer were sold, bringing a cumulativetotal of $18,457,500. The group was led by ClaudeMonet’s
Antibes, le fort,
a panoramic view of theMediterranean coast and the fort of Antibes, France that isone of the artist’s most dazzling pictures from the 1880s.The painting brought $9,266,500, above a high estimateof $7 million. Additional property from prominentmuseums included a group of works from The Israel Museum, Jerusalem, which totaled $10,991,000 and

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