10 Memorable Moments from a Historic Week

Jean-Michel Basquiat Breaks $100 Million Mark

The unequivocal king of the week was Jean-Michel Basquiat, whose Untitled , a monumental 1982 painting, shattered the artist’s previous auction record. The work realised an astounding $110.5 million following a dramatic ten-minute battled watched by thousands live on Instagram, making it the highest-price ever paid at auction for an artwork created after 1980 and a new record for an American artist.

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New World Record for Earrings at Auction

The Apollo and Artemis Diamonds, offered separately in the Geneva Magnificent Jewels and Noble Jewels auction, were purchased for a combined total $57.4 million, becoming the most valuable earrings ever sold at auction. The purchaser promptly renamed the diamonds The Memory of Autumn Leaves (Fancy Vivid Blue diamond) and The Dream of Autumn Leaves (Fancy Intense Pink diamond).

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Malevich Leads Impressionist & Modern Art Sale

After a prolonged battle between four bidders, Kazimir Malevich’s Suprematist Composition with Plane in Projection sold for $21.2 million, topping the Impressionist & Modern Art Evening Sale and eclipsing its high estimate. The evening sale realised a total $173.8 million, up nearly 50 per cent year-to-date. There were strong results throughout the evening for Impressionist pictures, led by Claude Monet’s Le Bassin aux nymphéas , which sold for $16 million.

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Triumph for Diego Giacometti

A new artist record was achieved for Diego Giacometti’s monumental Bibliothèque de l’île Saint-Louis , one of the most important works of his career, which sold for $6.3 million. Following that success, Paris held a “white glove” 27-lot auction of Diego Giacometti’s work in which 90 per cent of lots soared above their high estimates. Works by the artist realised an impressive $14.7 million total this week at Sotheby’s worldwide across three sales.

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Picasso Man & Beast

Works from the collection of the artist’s granddaughter Marina Picasso totalled a stunning $10.3 million, more than double its high estimate and achieving the rare honour of being “white glove,” with 100 per cent of lots sold. The 111 unique ceramics and works on paper offered represented Picasso’s most celebrated styles, genres and subjects.

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Contemporary Art Evening Sale Totals $319.2 Million

The Evening Sale soared past estimates, with numerous artist auction records being broken – Jean-Michel Basquiat , Jonas Wood , Wolfgang Tillmans , Mira Schendel , Blinky Palermo , Takeo Yamaguchi and Keith Haring – and buyer participation from 39 countries. Several paintings made their auction debut, including Roy Lichtenstein’s larger-than-life Nude Sunbathing . From the last major series completed before the artist’s death, the work sold for $24 million.

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Max Ernst Bronze Leads Sculpture

One of the undisputed highlights of the Impressionist & Modern Art Evening Sale was the performance of sculpture, which achieved exceptional prices and totalled $54.1 million. Leading the way was Max Ernst’s Surrealist bronze Le Roi jouant avec la reine , which easily set a new auction record for any sculpture by the artist, selling for $16 million, more than six times the previous record. More than 10 bidders competed for the work, which hails from the private collection of the late artist Robert Motherwell and his wife, Renate Ponsold Motherwell.

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Modern and Contemporary African Art

Sotheby’s inaugural sale of Modern and Contemporary African Art realised £2.8 million ($3.6 million) in London on 16 May. In addition to the record-breaking sale total, the auction saw many artists achieving record-breaking prices. The British-Nigerian artist Yinka Shonibare MBE’s Crash Willy sold for £224,750, a new world record at auction for the artist. World records were also broken for António Ole (Angola), Pascale Marthine Tayou (Cameroon), Ouattara Watts (Ivory Coast), Armand Boua (Ivory Coast) and Abiodun Olaku (Nigeria), amongst others.

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Important Works of Design in Paris

Achieving a total of over €5 million, the Design sale on 16 May in Paris was a great success with artists from the second half of the 20th century proving particularly successful. Philippe Hiquily’s dining table in hammered brass and glass soared to €283,500, well over its high estimate. The mirror with a black talosel frame by Line Vautrin sold for €200,000, four times its high estimate, and achieved a record for the model.

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Magnificent Jewels and Noble Jewels Total $151 Million

There was dynamic bidding on the phone, online and in the room throughout with the Geneva sale with over 90 per cent of lots sold and two-thirds over the high estimate. Multiple records were achieved, including an auction record for a Fancy Intense Purplish Pink diamond , which sold for $13.2 million, also setting a new record price per carat at $1.9 million.

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