Record-breaking auctions as Mica Ertegun’s collection stuns at Christie’s
The esteemed interior designer Mica Ertegun’s L’empire des lumières, an enigmatic masterpiece by René Magritte, commanded an astonishing record of $121.1 million in New York on 19 November 2024. The sale wasn’t just a highlight for Magritte’s work; it also underscored an extraordinary evening at Christie’s, as the entire auction brought in a staggering $410 million, including fees.
This pivotal event centred on the remarkable single-owner collection of Mica Ertegun, whose legacy as a visionary interior designer and wife to Ahmet Ertegun, co-founder of Atlantic Records, captivated a global audience. The Ertegun collection achieved $157 million ($183.9 million with fees), falling well within its pre-sale estimate range of $139 million to $157 million.
A spotlight on surrealism and modern masters
A collection as carefully curated as Ertegun’s was destined to excite collectors and connoisseurs. Christie’s fully guaranteed the sale, with 19 paintings and sculptures from her estate finding new homes. The evening commenced on a more subdued note with Fritz Glarner’s Relational Painting Tondo No. 26, a Mondrian-inspired geometric work, which sold for $80,000 ($100,800 with fees).
However, the tempo shifted as the event unfolded. David Hockney’s convivial still life, Three Chairs with a Section of a Picasso Mural (1970), realised $7.5 million ($9 million with fees), more than doubling its lower estimate. Its larger counterpart, Still Life on a Glass Table (1971), soared to $16.2 million ($19 million with fees) after spirited bidding, highlighting Ertegun’s discerning taste in acquiring both works from London’s Cork Street gallery in the 1970s.
Magritte’s masterpiece steals the show
The night’s crescendo arrived with a trio of René Magritte’s works. Notable entries included La Mémoire (1945), which achieved $3 million ($3.6 million with fees), and La cour d’amour (1960), a mysterious composition that sold for $8.8 million ($10.5 million with fees).
However, the real triumph was L’empire des lumières (1954), a spellbinding masterpiece depicting an intriguing juxtaposition of night and day. Against fierce competition, this record-breaking piece fetched $105 million ($121.1 million with fees), obliterating the previous auction high for the artist, set at £59.4 million ($79.4 million) in London in 2022. This sale exemplifies Magritte’s enduring resonance with collectors, with his luminous works celebrated across continents.
American art shines alongside European legends
Ed Ruscha’s works also found resounding success. His playful yet technically masterful painting, Marble Shatters Drinking Glass (1968), reached $2.2 million ($2.7 million with fees), reinforcing the strength of American artists in a sale led by European heavyweights.
Other highlights in the sale included Joan Miró’s dreamlike Peinture (amour) from 1925, which achieved $4 million ($4.8 million with fees), and Alberto Giacometti’s imposing bronze sculpture, Femme qui marche (II), which commanded $22.8 million ($26.6 million with fees). Giacometti’s ability to fuse slender form with expressive power was fully appreciated in this sale.
A marathon of exceptional sales
The second segment of Christie’s evening—a broader 20th Century Art auction—secured an additional $253 million ($302 million with fees). Although it fell below the pre-sale expectations of $265 million to $375 million, several extraordinary pieces left a lasting impression.
Marcel Duchamp’s revolutionary In Advance of the Broken Arm (a snow shovel, re-imagined as art in 1915) fetched $2.5 million ($3 million with fees), showcasing how conceptual works hold their own alongside traditional masterpieces. Further standout sales included Joan Mitchell’s City Landscape (1958), which sold for $14.5 million ($17 million with fees), and Willem de Kooning’s Untitled (1982), which achieved $11.2 million ($13.2 million with fees).
Magritte’s encore and other notable moments
Undoubtedly, René Magritte remained the evening’s star. A smaller gouache on paper version of L’empire des lumières (1956) soared to $16 million ($18.8 million with fees), far exceeding its $6 million to $8 million estimate. This smaller work, pursued by five bidders, exemplified the enduring allure of the artist’s dreamy visions.
Not to be eclipsed, Francois-Xavier Lalanne’s Grande Carpe Bar achieved $6.1 million ($7.4 million with fees), and Ed Ruscha’s monumental Standard Station, Ten-Cent Western Being Torn in Half (1964) fetched an impressive $59 million ($68.2 million with fees), setting a new benchmark for the artist.
A night to remember
This historic evening revealed the robust appetite of the global art market as well as the enduring legacy of Mica Ertegun’s exceptional collection. Her remarkable taste and dedication to the arts have left an indelible mark, with her treasured pieces finding new chapters in their storied lives.
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