The November marquee auctions in New York started with a bang, as Sotheby’s Evening Sales on November 18 closed with a combined total of $309 million—more than 30 percent over last year’s total of $223.4 million from thirty-three lots—setting a healthy tone. for the next sale of the season. The evening’s success was fueled by the impressive collection of beauty queen Sydell Miller, which broke expectations with a total of $216 million, above the high estimate of $205 million.
The undisputed star of the night was Claude Monet Nympheas (1914-1915), new art from the artist’s water lily series. After a heated seventeen-minute bidding war, the painting reached $65.5 million, the winning bid being placed by an Asian client through Jen Hua, Sotheby’s vice chairman for Asia. It was a fitting highlight in a collection already full of trophy pieces.
Another highlight was Wassily Kandinsky’s The Weisses Oval (The White Oval) (1919), a museum-quality work that made its auction debut. Backed by both a guarantee and an irrevocable bid, the painting soared past its high estimate, eventually fetching $21,610,000. This is Yves Klein’s place Relief Éponge bleu sans titre (RE 28) (1961), another confirmed lot, also exceeded expectations. Acquired by Miller at Acquavella Gallery in 2001, the iconic blue sponge piece realized $14,227,500.
The evening’s momentum shifted to the creations of François-Xavier Lalanne, ensuring the enduring appeal of Les Lalanne’s incredible designs. A shining table made of brass and glass, Troupeau d’Éléphants dans les Arbres Tablecommissioned by Miller in 2001 for Peter Marino, it blew its original estimate of $4-6 million to sell for $11,600,000. The excitement didn’t stop there—two gilded bronze and glass consoles by Lalanne, also commissioned directly by Miller, brought $3,840,000 and $2,160,000, both above their high estimates of $2 million.
Other large lots sold included Henry Moore’s Mother and child sitting (1975-76), a stunning bronze that sold for $11,600,000—just above its high estimate, perhaps due to an irrevocable backing bid. Henri Matisse Jeune fille en dress woke up (1942), his period thriller Nice, soared past its $3-5 million estimate to earn $9,730,000, as expected. Mark Rothko’s new-to-auction oil on paper, described as “an example of the juxtaposition of color and light,” also sparked enthusiastic bids before selling for $5,160,000—above its $2-3 million estimate. Both the Matisse and the Rothko were acquired by Miller at the Gasiunasen Gallery, Palm Beach, in the late 1990s.
But as the night went on, the Modern Evening Sale was less successful. Sales reached only $92.9 million compared to an estimate of $92.3-$135 million for a sales rate of 77 percent. Two important lots, one by Pablo Picasso and one by Sam Francis, were withdrawn before the auction, possibly due to a lack of buyers. Among the seven lots that did not sell, the biggest discount was a rare Matisse Torse de Jeune is full (1921-1923). Despite carrying an in-house guarantee and an estimate of 12-$13 million, it failed to find a buyer even after detailed but ineffective bidding for the chandelier. Other works not sold include three Picassos and pieces by Max Ernst, Pierre-Auguste Renoir and René Magritte.
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Still, it would be wrong to call the sale a complete failure, especially given the outstanding success of Leonora Carrington’s mysterious sculpture. The Grande Dame. The work fetched $11.4 million—double its original estimate of $5-7 million—after a fierce bidding war. Argentinian collector Eduardo Costantini, who bid for Sutu’s head of Latin American Art, Anna de Stasi, won. Costantini was also a record-setting buyer for Carrington Les Distractions de Dagobert (1945), which sold for $28.5 million in Suthini last May.
After the sale, Costantini reflected on his purchase, telling the press: “We are happy and very lucky that a collector with such a keen eye has chosen to part with two rare pieces, allowing unity to find these beautiful works. After more than four decades of collecting artworks by leading artists in modern and Latin American history, Carrington remains a notable absence from our collection. This year provided a rare opportunity to acquire two outstanding works by the artist—the best of their kind—and to ensure that Carrington is fully represented in the Malba collection. The Grande Dame again Les Distractions de Dagobert you will make perfect companions for the great works of Remedios Varo, Frida Kahlo and many other leading lights of the Latin American Surrealist movement.”
Confirming the strong market for Surrealist women and the growing interest in Latin American art, by Leonora Carrington Temple of the Earth (1954) did well. Already backed by an irreversible bid, the painting sold for $4,560,000, landing squarely within its presale estimate of $3-5 million. It marked an impressive appreciation at its last sale at Christie’s in 1993, where the consignor bought it for $365,500—a testament to the meteoric rise of Latin American art over the past two decades. Other Latin surrealists also saw success, with Remedios Varo’s gouache Los caminos tortuosos (1958) starts the evening at $2,040,000. The piece, which was previously sold at Sotheby’s in 2003 for $187,200, shows another dramatic price jump. Meanwhile, Leonor Fini Les Stylites (Les Stylists) exceeded its high estimate of $720,000, reflecting the growing demand for his work following his inclusion in the last Venice Biennale and continued promotion by the Kasmin Gallery. To be seen in a major exhibition at Milan’s Palazzo Reale next March, the 1934 painting previously sold at Sotheby’s in 2007 for just $129,512, making its current result even more remarkable.
Among the highly anticipated highlights of the Contemporary Auction were three works of art from the collection of Harry Frank Guggenheim, the influential businessman and cultural icon who was instrumental in establishing the Solomon R. Guggenheim Museum. The most prominent in this case was Giacometti’s bronze bust Buste (Tête tranchant) (Diego)new to the market, sold for $13,250,000. A rare portrait of Paul Gauguin La Femme Noire (1889) followed but was a disappointment, grossing just $480,000, well below its $700,000 low estimate. Likewise, Franz Marc Das Lange Gelbe Pferd (The Long Yellow Horse)the exemplary work, fell short of expectations, selling for $4,320,000 against a low estimate of $8,000,000.
Brighter moments came with strong performances from Alexander Calder’s floating mobile, which fetched $3,600,000, and Claude Monet’s. Paysage, bord de la Seine, près de Jeufosse (Eure)which was backed by an irrevocable bid and guarantee and sold for $960,000. Other lots that exceeded expectations include Paul Signac’s Antibes. La Pointe de Baconfor sale at $9,950,000, and by Henri-Edmond Cross Eucalyptus et Olivierwhich cost $1,380,000. A new-to-auction Max Beckmann canvas from 1934 also impressed, selling for $2,400,000.
One surprising star of the evening was the design artwork: Danner Memorial Window by Louis Comfort Tiffany. Widely considered one of Tiffany’s greatest works, the magnificent stained glass creation fetched a record $12,480,000. A wonderful combination of nature, historical memory and emotional resonance, a window symphony of bright color and intricate details were attracted. After an intense six-minute bidding war between three willing participants, the piece was sold to a telephone bidder represented by the global head of science and pop culture, Cassandra Hatton.
While this strong start offered a glimmer of hope for a strong week of marquee sales, it also underscored an important truth about today’s art market: buyers may be more selective, but they’re still eager to compete for once-in-a-lifetime opportunities. —especially A+, new-to-market artworks. As the market increasingly favors works that tick all the boxes—quality, provenance and investment-grade guarantees—the path to success for auction houses is clear. Protecting high-quality goods and making their sales consistent across locations and categories has never been more important. Next, the gavel will pass to Phillips and Christie’s, both of which will host their own sales this evening (Nov. 19).
