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H eadlined by The Macklowe Collection which itself brought $676 million, a packed week of Marquee Sales at Sotheby's New York has reached unprecedented heights, totaling $1.33 billion. Ranging from the U.S. Constitution to fresh-to-market Impressionist and Modern works, to some of the hottest Contemporary artists on the market today, the week's offerings have inspired a frenzy of interest from a record 48 countries and a stunning 96% sold through Friday.
The Macklowe Collection
White Glove Sale of The Macklowe Collection Totals $676 Million
T
he highly anticipated sale of The Macklowe Collection realized a total $676.1 million on the strength of fresh-to-market masterpieces by the most important artists of the last 80 years. Highlights of the evening included Mark Rothko’s No. 7, which sold for $82.5 million, Albert Giacometti’s Le Nez, which achieved $78.4 million, Jackson Pollock’s Number 17, 1951, which more than doubled its low estimate to achieve $61.2 million, a new artist record, and Cy Twombly’s monumental Untitled, which sold for $58.9 million.
Top 10 Lots
Modern Evening Auction
Record-Breaking Frida Kahlo Helps Drive Modern Evening Auction Total to $282.9 Million
T
he Modern Evening Auction totaled $282.9 million. Highlighting the sale were Claude Monet’s pioneering foray into abstraction, Coin du bassin aux nymphéas, which sold for $50.8 million and Frida Kahlo’s Diego y yo, which realized $35.8 million, shattering not only a record for the artist but setting a new high water mark for a work of Latin American Art.
“Frida Kahlo's status as a global cultural icon is indisputable, and tonight’s outstanding result further secures her place in the auction echelon she belongs, as one of the true titans of 20th century art.”
Julian Dawes, Sotheby’s Co-Head of Impressionist & Modern Art in New York
Top 10 Lots
Modern Day Auction
Led by works by Alexander Calder, Wassily Kandinsky, Marc Chagall and more titans of the 20th Century, the Modern Day Auction brought a total $53 million. Ranging from Impressionism and Cubism to Abstract-Expressionism and the School of Paris, the Modern Day Auction offerings charted the course of the critical developments of the mid-20th century through the fulfillment of total abstraction.
Top 10 Lots
The Now Evening Auction
One of the unusual storylines of the historic week was the fielding of real-time bids in both Ether (ETH) and U.S. dollars for a pair of iconic Banksy paintings that highlighted the Now Auction. That excitement only helped fuel an already white-hot 100% sold sale that doubled its low estimate and totaled $71.9 million. Bidding was sustained at a high volume throughout the sale with an average of five bidders across the 23 lots offered. The top lot of the sale was Yoshitomo Nara's Nice to See You Again which beat pre-sale estimates realizing $15.4 million.
Top 10 Lots
The Constitution
A Rare First Printing of the U.S. Constitution Becomes the Highest Price at Auction for a Document
After a dramatic, nearly 8-minute battle between two determined bidders, the U.S. Constitution sold for $43.2 million, more than double its pre-sale high estimate. The remarkable price makes it a new world auction record for any book, manuscript, historical document, or printed text.
“The Constitution needs little introduction as one of the most influential and significant historical documents ever conceived, and tonight’s result reflects how relevant it remains 234 years later – not only in America but for global democracy."
Selby Kiffer, Sotheby’s Senior International Specialist for Books & Manuscripts
Contemporary Evening Auction
With a 94% sell-through rate, the Contemporary Evening Auction came in near it's high estimate, adding $119.2 million to a stunning week of sales and a night that included The Now Auction and was punctuated by the record-breaking sale of the U.S. Constitution. Among the sale's highlights were the 11 works from The Collection of Douglas Cramer which were 100% sold, together bringing a total of $49.4 million, almost double the pre-sale combined estimate of $27-37.5 million.
