The spring auction season kicked off tonight with a well-stocked Impressionist and modern sale at Sotheby’s that brought in $230 million for the house across 71 lots.
Auctioneer Tobias Meyer, never known for his speediness with the hammer, seemed particularly patient over the course of the evening, with the audience groaning audibly as he accepted another bid on lot 17—a Bonnard landscape that sold for a below-estimate $1.45 million—when the sale was already at minute 35. (All prices include buyer’s premium.)
But don’t knock it if it works. Of the 71 lots on offer, 11 went unsold, a fine sell-through rate of 84 percent by lot, though there was a workmanlike feel to the affair: just 19 lots sold above estimate. The grand total fell within the presale estimate of $162.5 million to $235.1 million, but is was much closer to
Article source: http://galleristny.com/2013/05/cezanne-leads-sothebys-auction/