LONDON, March 2, 2017 /PRNewswire/ -- Sotheby's (NYSE:
BID) March 2017 sales of Impressionist & Modern Art in
London achieved $264.4 million (£213.9 million), exceeding their
overall low estimate of $208.7
million (£175.5 million). The results represent a
40.7% increase in Dollars and a 68.7% increase in Pounds on the
same sales one year ago. The series was anchored by an
evening sale that achieved $240.8
million (£194.7 million), the highest for any auction held
anywhere in London. Six works were sold for more than
$10 million each, including three
paintings by Pablo Picasso and
others by Gustav Klimt, Amedeo Modigliani and Paul
Gauguin.
"We are exceptionally pleased with the strong performance of our
Modern and Impressionist sales in London," said Sotheby's President and CEO
Tad Smith, adding, "These results
are a testament to excellent teamwork by my talented colleagues
combined with clients eager to buy quality works at the right
prices."
Sotheby's sales of Contemporary Art in London will take place next week on 8 & 9
March and carry a combined low estimate of $116.6 million (£93.3 million).
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Sotheby's has been uniting collectors with world-class works of
art since 1744. Sotheby's became the first international auction
house when it expanded from London
to New York (1955), the first to
conduct sales in Hong Kong (1973),
India (1992) and France (2001), and the first international
fine art auction house in China
(2012). Today, Sotheby's presents auctions in 10 different
salesrooms, including New York,
London, Hong Kong and Paris, and Sotheby's BidNow program allows
visitors to view all auctions live online and place bids from
anywhere in the world. Sotheby's offers collectors the resources of
Sotheby's Financial Services, the world's only full-service
art financing company, as well as the collection advisory services
of its subsidiary, Art Agency, Partners. Sotheby's
presents private sale opportunities in more than 70 categories,
including S|2, the gallery arm of Sotheby's Global Fine Art
Division, and two retail businesses, Sotheby's Diamonds and
Sotheby's Wine. Sotheby's has a global network of 80 offices in 40
countries and is the oldest company listed on the New York Stock
Exchange (BID).
*Estimates do not include buyer's premium. Prices achieved
include the hammer price plus buyer's premium and are net of any
fees paid to the purchaser where the purchaser provided an
irrevocable bid.
Images are available upon request
Browse sale catalogues, view original content, stream live auctions
and more at www.sothebys.com, and through Sotheby's apps for
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New York | +1 212 606
7176 | Lauren Gioia |
Lauren.Gioia@Sothebys.com | Dan
Abernethy | Dan.Abernethy@Sothebys.com
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SOURCE Sotheby's