Sotheby's department in Paris is at its best

J.-M. Basquiat. Untitled.1983. Acryl on canvas. Lot sold for €1 992 250. Contemporary art. Sotheby’s. Paris, May 28

Undoubtedly, the first half of 2008 was successful for the Parisian department of the auction house. Sales totaled €87 326 898 that exceeded a last year’s activities in 4 %.

As it is seen France not only continues to keep its level in the conditions of the all-European crisis but also increases its activities. The president of Sotheby’s department in Paris Guillaume Cerutti told: “Paris, certainly, becomes new European auction capital. Nowadays our clients prefer to buy a work of art here, just as it was before – in London and New York. We continue to work with the largest collectors of the world”.

As to statistics, the French auctioneers are constant. Their number equals 34 % from the total number of buyers. Representatives of other countries of Europe and Russia are 37 %, and Americans – 18 % against 14 % of the last year.
The number of buyers from Asia and the Near East totaled 10 % that also exceeds last year’s figures.

The best results are in the following strings: the modern art, impressionists, Old masters and painting of the XIX century. Real activities are also in furniture, ethnic and primitive art. In total 5 lots were sold for a price exceeding €2 000 000, cost of 9 lots exceeded €1 000 000, and 25 lots were sold by auction for more than €500 000.

Great achievements were made at “Modern art” sales. Jean Michel Basquiat’s Untitled (1982) was sold for €1 992 250. It became an absolute record of the artist on the auction sales.

The category Old Masters and Art of XIX Century is notable for Jean Leon Jerome’s sculpture “Corinth” (circa 1903) sold for €465 750. This sum is the highest ever paid for work of this artist.

The growth of activity of buyers of Sotheby’s department in Paris has also caused the increase in an average cost of a lot which is more in 78 % in comparison with the last year and now makes €58 530.

Summing up it is necessary to notice that in the early August Sotheby’s press-service will publish the general results of activity of the auction house for the first half of 2008.

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Published in: on September 19, 2008 at 2:14 am  Leave a Comment  
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