Claude Monet’s $70.4 Million Water Lilies Painting Leads Sotheby's Marquee Evening Sales in New York

Friday, May 14, 2021
Claude Monet’s $70.4 Million Water Lilies Painting Leads Sotheby's Marquee Evening Sales in New York

On May 12, 2021, Claude Monet’s $70.4 Million Water Lilies Painting was the leading sale at Sotheby's Marquee Evening Sales in New York which sold a total of $600 million.

On May 12, 2021, Sotheby’s New York saleroom, redesigned for the occasion by Hamilton set designer David Korins, welcomed a limited number of clients for a series of gala-style sales that brought together in-person and digital experiences as never before, with results to match:

Together, the three sales staged that evening realized $597 million (total pre-sale estimate across all three sales $439.4/603.8m), bringing the overall total auction sales at Sotheby’s worldwide this week to $672,897,518, with additional sales taking place in Geneva, London and Paris. Sotheby’s Day Sales of Impressionist, Modern and Contemporary Art are still to come this week.

Painting by Claude Monet

Key Take Aways

Participants were from 43 countries

Livestream attracted 1.7 million views around the world

Across all three sales: 93% sold by lot

Collectors in Asia take home works by Gerhard Richter, Roy Lichtenstein, George Condo, Jeff Koons, Dana Schutz, George Condo, Claude Monet, Leonor Fini, and Pierre-Auguste Renoir, and underbid works by Banksy, Monet’s Le Bassin aux nymphéas, Egon Schiele, and Pierre-Auguste Renoir

At least five bidders competed for works by Claude Monet, Jean-Michel Basquiat, Elizabeth Peyton, Banksy, Rudolf Stingel, and Raymond Pettibon

Eleven Auction Records: Robert Colescott | Richard Diebenkorn | Leonor Fini | Childe Hassam | Jeff Koons (Painting) | Harold Ancart | Kenneth Noland | Larry Rivers | Raymond Pettibon | Elizabeth Peyton | Salman Toor

 

SALE BY SALE STATS

AMERICAN VISIONARY: THE COLLECTION OF MRS JOHN L. MARION

Every paddle raised in this evening’s sale paid homage to Mrs. Marion’s remarkable life - her boundless energy and limitless spirit of inquiry.”

Michael Macaulay, Sotheby’s Senior International Specialist for Contemporary Art

Sale total: $157.2 million (est. $132.8-190.2 million)

Two works exceed $30 million & four works exceed $20 million

Artist records for Richard Diebhenkorn, Kenneth Noland, and Larry Rivers

Andy Warhol’s 1963 Elvis 2 Times eclipses high estimate to sell for $37 million in auction debut (est. $20/30 million)

Clyfford Still’s masterwork, PH-125 (1948-No. 1) achieves $30.7 million in its auction debut (est. $25/35 million)

Gerhard Richter’s Abstraktes Bild was underbid by one collector in Asia, and sold to another for $23.2 million (est. $14/18 million)

Richard Diebenkorn’s seven-foot-tall Ocean Park #40 - bought at Sotheby’s in 1990 for $880,000 - sells for at $27.3 million (est. $20/30 million)

 

CONTEMPORARY ART EVENING AUCTION

“The tremendous result for Basquiat reaffirms his position as the preeminent and most sought-after artist in the market right now. There is no question, Basquiat’s now stands alongside Andy Warhol, Pablo Picasso, and other great artists of the 20th century.”

Grégoire Billault, Sotheby’s Chairman of Contemporary Art

Sale total: $218.3 million (estimate $140.1/194.3 million); 100% sold

Jean-Michel Basquiat’s Versus Medici – see above

Cy Twombly’s Untitled (Rome) from the artist’s series of Blackboards paintings brought $41.6 million (estimate $35/45 million)

Robert Colescott’s George Washington Carver Crossing the Delaware shattered his previous auction record ($912,500) by more than 16 times. The painting sold for $15.3 million (estimate $9/12 million) after a seven-minute bidding battle, to the Lucas Museum of Narrative Art

Banksy's Love is in the Air sold to applause after a 14-minute bidding battle for $12.9 million (estimate $3/5 million) - the second-highest auction price for the artist

 

IMPRESSIONIST & MODERN ART EVENING SALE

“Tonight’s sale is a resounding vote of confidence in the Impressionist & Modern art market, with strong global demand for the roll call of great names we were able to present.”

Helena Newman, Sotheby’s Worldwide Head of Impressionist & Modern Art

Sale total: $221.3 million (estimate $166.5/219.3 million); 94% sold

Claude Monet’s Le Bassin aux nymphéas – see above

Paul Cézanne’s Nature morte: pommes et poires $20 million (estimate $25-35 million). last sold at auction for $8.7 million at Sotheby’s NY in November 2003.

Leonor Fini’s Autoportrait au scorpion brought $2.3 million – over 2x its high estimate and the artist’s previous auction record

Five works by Pablo Picasso were 100% sold, including Femme assise en costume vert which sold for $21 million (estimate $14/18 million)

Joan Miró’s Peinture achieves $12.7 million (estimate $12/18 million)

Childe Hassam’s Flags on 57th Street, Winter 1918, which sold for $12.3 million (estimate $12/18 million).

 

Telegram Channel

ArtDependence is now also available on the messaging platform Telegram. Telegram is a cloud-based mobile and desktop messaging app with a focus on security and speed.

Subscribing to the ArtDependence Channel allows you to easily stay up to date with the latest ArtDependence news.

Subscribe to the Newsletter

Image of the Day

Jessica Rankin's new work for 'Art World Goes Green' initiative in support of WWF action on climate crisis.

Jessica Rankin's new work for 'Art World Goes Green' initiative in support of WWF action on climate crisis.

Search

About ArtDependence

ArtDependence Magazine is an international magazine covering all spheres of contemporary art, as well as modern and classical art.

ArtDependence features the latest art news, highlighting interviews with today’s most influential artists, galleries, curators, collectors, fair directors and individuals at the axis of the arts.

The magazine also covers series of articles and reviews on critical art events, new publications and other foremost happenings in the art world.

If you would like to submit events or editorial content to ArtDependence Magazine, please feel free to reach the magazine via the contact page.