Global Participation from more than 30 Countries Drives Impressionist & Modern Art Evening Sale Above High Estimate to £105,939,000 / $165,932,256 / €123,789,394

http://www.sothebys.com/content/dam/sothebys/PDFs/June%202013%20Post-Sale%20Impressionist%20Eve%20Sale.pdf

Exceptional Estate Collections
Draw Bidders in Record Numbers

Monet’s view of Venice, Le Palais Contarini, is the star lot of the Season at £19.7m.

Monet’s view of Venice, Le Palais Contarini, is the star lot of the Season at £19.7m.

Monet’s View of Venice, Le Palais Contarini
Is the Star Lot of the Season at £19.7m / $30.8m / €22.9m

LONDON – JUNE 19, 2013 – Sotheby’s London Evening Sale of Impressionist & Modern Art totalled £105,939,000, exceeding its pre-sale high estimate of £74-104 million. Driven largely by the strength of the diverse offerings – fresh-to-the-market estate property, sculpture, and classic Impressionist works – the sale attracted global competition.

Monet’s 1908 view of Venice, Le Palais Contarini, provided the highpoint of the evening, becoming the top selling work of the London summer season, when it sold in a tense three-way bidding battle for £19,682,500/$30,828,700/€22,998,940.

Moments earlier in the sale, a pristine example of a quintessential work by Piet Mondrian, Composition with Red, Yellow and Blue (1927) – his most favoured combination – was fiercely contested by five bidders.  The winning bid was cast by a telephone bidder and the work fetched a final sum of £9,266,500/$14,514,119 (est. £4.5-6.5) – a price reflecting the rarity of seminal works by the Dutch artist on the market.

The auction was 81.7% sold by lot and was characterised by broad participation from bidders across 33 different countries on the telephones, in the saleroom and online. The sale saw a record number of participants from Asia in a London Impressionist sale.