American Paintings Brings Total of $31,263,400

In an overflowing saleroom today, collectors vied for works of outstanding quality by American artists, driving the total to $31,263,400 over a $30 million high estimate. Bidding was at times fierce, as evidenced by the $7,176,000 achieved for Albert Bierstadt’s Yosemite Valley, exceeding the $6 million high estimate and establishing a new world record for the artist at auction. Artist records were also set for Arthur Dove, Daniel Garber and David Johnson.

Peter Rathbone and Dara Mitchell, Directors of Sotheby’s American Paintings Department, commented “We were delighted with the results we saw today. Across the board, the prices achieved show a market with great strength and depth. We were honored to offer works this season of exceptional quality and provenance, and collectors responded enthusiastically. The Bierstadt, for example, was indeed the finest example of the artist’s work to come on the market in many years, and today’s record-setting price confirms this artist’s place in the landscape of American Paintings.”

The top selling lot in today’s sale was Yosemite Valley, a magnificent oil on canvas from 1866 by Albert Bierstadt depicting the grandeur of the landscape of the American west. The bidding came down to two collectors in the room resulting in a price of $7,176,000, well above the $6 million high estimate and a record for the artist at auction.

Competition was also heated for Marsden Hartley’s atmospheric Storm Down Pine Point Way, Old Orchard Beach, painted circa 1941-1943 just prior to the artist’s death. Estimated to sell for $700/900,000, this work was finally hammered down at $2,360,000. Additionally, Daniel Garber’s beautiful landscape Byram Hills, Springtime sold for $1,128,000, nearly double the high estimate and a new record for the artist at auction.

Also impressive was Arthur Dove’s Snowstorm, a naturalistic yet abstract oil on canvas painted in 1935, which attracted many bidders resulting in a price of $1,240,000, well above the $700/900,000 estimate and establishing another auction record today.

The market for sculpture continues to be very strong, as evidenced by Frederic Remington’s bronze entitled The Mountain Man from 1904, one of the artist’s most highly acclaimed accomplishments. Several collectors competed for the work, driving the price to $1,128,000, well above the $500/700,000 estimate.

Published in: on December 7, 2003 at 2:44 am  Leave a Comment  
Tags: ,

The URI to TrackBack this entry is:

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: