Sotheby’s November Auction Season Begins With Strong Results
Sotheby’s launched its highly anticipated November auction season on 18 November with a compelling double-header event. The evening commenced with the white-glove, single-owner sale titled “A Legacy of Beauty”—a remarkable collection from the late beauty product magnate and philanthropist Sydell Miller. This grand opening paved the way for the Modern evening sale, though the latter proved to be less dynamic in closing results. Combined, the two sales achieved a total of $268.6m (£220m), or $309m (£253m) including fees.
Sotheby’s press office highlighted this as an “over 30%” gain compared to the Modern evening sale hosted in November 2023, which brought in $190m (£156m) or $223.6m (£184m) with fees. However, when factoring in the November 2023 sale of The Emily Fisher Landau collection, which alone generated $351.6m (£288m) or $406.4m (£333m) with fees, the overall tally indicates a 42.9% decline from the $541.9m (£444m) Sotheby’s posted across both sales last year.
A Lavish Display Of Artistry And Promise
The Sydell Miller collection contributed $189.5m (£155m), or $215.9m (£177m) with fees, comfortably within its pre-sale estimate of $170m to $205m (£139m–£168m). Amid lavish competition, notable highlights included Edgar Degas’s sublime bronze dancer, Great arabesque, third beat. Cast in 1919, this exquisite piece realised $1.3m (£1.06m) or $1.6m (£1.3m) with fees, far exceeding its estimate of $400,000 to $600,000 (£327,000–£491,000).
Among the standout lots was Francois-Xavier Lalanne’s Troupeau d’Éléphants dans les Arbres—a mesmerising table adorned with sculpted elephants in gold, patinated bronze, and glass. Originally obtained by Miller from the esteemed architect Peter Marino, this stunning piece, which once adorned her oceanfront Palm Beach mansion, La Rèverie, fetched $10m (£8.2m) or $11.6m (£9.5m) with fees—rising well above its $4m to $6m (£3.3m–£4.9m) estimate.
A Palette Of Blue And A Whirlwind Of Bids
Further electrifying the sale, Yves Klein’s Untitled Blue Sponge Relief (RE 28) soared to $13.4m (£11m) or $14.2m (£11.6m) with fees. This vibrant 1961 masterpiece, composed of synthetic resin, natural sponges, and Klein’s patented Yves Klein Blue pigment, easily surpassed its $8m–$12m (£6.5m–£9.8m) estimate. Its successful bidder was New York private dealer Andrew Fabricant.
Pablo Picasso’s La Statuaire (1925) achieved one of the evening’s top results at $22m (£18m), or $24.8m (£20.3m) with fees. Despite falling short of its unpublished $30m (£24.5m) estimate, this rare neoclassical work showcasing a seated sculptor drew significant interest, including bids from notable adviser Patti Wong. Miller had originally acquired the piece for $11.8m (£9.6m) in 1999 during Sotheby’s iconic Eleanore and Daniel Saidenberg sale.
A Monet Masterpiece Reigns Supreme
The night’s crowning achievement came courtesy of Claude Monet’s enchanting Nymphéas (1914–17), a vivid depiction from his famous Giverny series. Measuring an impressive 175cm by 136cm, this piece surpassed expectations, realising $65.5m (£53.7m) with fees against its unpublished $60m (£49m) estimate. An Asian bidder, represented by Sotheby’s Asia deputy chair Jen Hua, secured the artwork amidst global competition.
After an intermission at Sotheby’s York Avenue salesroom, attention turned to the Modern evening sale. However, this segment struggled by comparison. Of the 33 lots, seven went unsold, causing a laboured buy-in rate of 25.6%. The sale concluded with $79.1m (£64.8m), or $92.9m (£76.2m) including fees, missing its pre-sale expectation range of $92.3m to $135m (£75.7m–£111m).
A Mixed Outcome For Modern Masters
Despite challenges, notable records were achieved. Tiffany Studios’ The Danner Memorial Window set a new benchmark for glasswork at $10.8m (£8.8m) or $12.4m (£10.2m) with fees. Surrealist women artists also enjoyed significant recognition, with Leonora Carrington’s La Grande Dame (The Cat Woman) (1951) fetching $9.8m (£8m), or $11.3m (£9.3m) with fees—a record for sculpture by the artist. This imposing oil-on-wood piece was acquired by Argentine collector Eduardo Costantini.
Equally noteworthy was Remedios Varo’s fantastical Los caminos tortuosos, a 1958 gouache that earned $1.7m (£1.4m), or $2m (£1.6m) with fees. Meanwhile, Picasso’s Buste de femme (1949), a vibrant portrait of his muse Francoise Gilot, brought $8.5m (£6.9m) against its $9m to $12m (£7.4m–£9.8m) estimate.
Artistic Promise Amid Disappointments
Yet, the sale also faced disappointments. Franz Marc’s evocative Das Lange Gelbe Pferd (The Long Yellow Horse, 1913) went unsold against expectations of $8m to $12m (£6.5m–£9.8m). Similarly, Henri Matisse’s Torse de jeune fille (1921–22) failed to meet its guaranteed estimate of $12m to $18m (£9.8m–£14.7m). Despite these setbacks, the evening saw innovative artistic mediums shine.
Paul Signac’s shimmering Antibes, La Pointe de Bacon (1917) fetched $8.5m (£6.9m), with sculptures such as Alberto Giacometti’s Buste (Tête tranchante) selling within its estimate at $11.5m (£9.4m) or $13.2m (£10.8m) including fees.
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