NEW YORK: New York’s spring art sales commenced on a high note as auction houses Sotheby’s and Christie’s reported robust bidding and impressive sales figures. A notable highlight was Claude Monet’s masterpiece “Meules a Giverny,” painted in 1893, which fetched nearly $35 million at Sotheby’s auction. The competitive bidding war underscored the enduring appeal of Monet’s iconic impressionist works in the art market.
Additionally, British-Mexican artist Leonora Carrington made headlines by surpassing her own auction record with the sale of “Les Distractions de Dagobert” for $28.5 million. This achievement catapults Carrington into the ranks of the top five most valuable women artists at auction and among the top four surrealist artists, surpassing notable figures such as Max Ernst and Salvador Dali, according to Sotheby’s.
The success of Monet’s and Carrington’s works reflects a resurgence in the global art market, following a period of softening sales in the previous year. Strong auction results in London and Paris have sparked optimism for 2024, demonstrating renewed confidence among collectors and investors in the art world.
Christie’s also made significant strides in the contemporary art sector, with sales totaling $115 million, including a notable painting by Jean-Michel Basquiat fetching $32 million. Meanwhile, at the Phillips auction house, Basquiat’s “Untitled (ELMAR)” commanded a staggering $46.5 million, further highlighting the enduring appeal of the artist’s work among collectors.
Despite geopolitical uncertainties, such as the war in Ukraine and its repercussions on the art market, auction sales worldwide witnessed a slight decline last year. However, the strong start to New York’s spring art sales signals a resurgence in confidence and enthusiasm within the art community, reaffirming the enduring allure and investment value of fine art amidst shifting global dynamics.
