Skip to main contentAccess keys help

[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 6 February 2007, 11:01 GMT
Modern art sale makes record �95m
Chaim Soutine's L'Homme au Foulard Rouge (detail) courtesy of Sotheby's
Soutine's L'Homme au Foulard Rouge made more than �8m
An auction of modern and Impressionist paintings has become the most lucrative art sale ever held at Sotheby's.

The London auction, which used material from American collections, made almost �95m, with 30 lots making over �1m.

The top price for a single painting was �8,756,000 for Chaim Soutine's L'Homme au Foulard Rouge, which had been given an estimate of between �3.5m and �5m.

Works by Renoir, Degas, Monet and Edvard Munch and a sculpture by Modigliani were also sold.

Sotheby's said there was a surge of interest in the modern art market, as shown by the fact the Soutine was sold for �1.5m just a decade ago.

Melanie Clore, co-chairman of Sotheby's Impressionist and modern art department, said: "What was most encouraging about tonight's sale was that the evening's success was not pegged on a single picture but, led by the Soutine, the strength of the market was evident throughout.

"The results this evening provide clear evidence of the depth of the market - the buyers are informed and considered private collectors, or dealers representing private collectors."

Of the collections sold, the highlight was that of the late Charles R Lachman, a founding partner of Revlon cosmetics.

This included Renoir's Les Deux Soeurs, which fetched �6,852,000, and Raoul Dufy's La Foire aux Oignons, which sold for �4,052,000.


SEE ALSO
Klimt crowns record art auction
09 Nov 06 |  Entertainment
Bard's first folio fetches �2.8m
13 Jul 06 |  Entertainment
Record sales at UK art auctions
22 Jun 06 |  Entertainment

RELATED BBC LINKS

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

AmericasAfricaEuropeMiddle EastSouth AsiaAsia Pacific