The auction just concluded in London by Christie's, coinciding with Frieze Week, achieved a sales rate of 91,2% per lot and over 60% of the lots exceeded their estimates. A sign of recovery that was also expected in coincidence with the centenary of the Surrealist Manifesto.
50% of buyers came from the EMEA region, 28% from the United States and 22% from Asia and 23 countries. Of the 52 works for sale, 33 were new to the market and 24 lots exceeded £20m. The unique 21/23 platform continues to attract a younger demographic, with XNUMX% of all buyers being millennials or younger.
Ria, Naked Portrait by Lucian Freud led the sale (realised price: £11.810.000), followed by Balloon Monkey (Blue) by Jeff Koons (realised price: £7.555.000) and More Woldgate Timber by David Hockney, 13 October 2009 (realised price: £4.638.000).
Good results for surrealist works
Three works by René Magritte attracted competitive bidding, led by Le grand style which sold for £2.581.000 (estimate: £1.000.000-1.500.000); Leonor Fini's Rogomelec achieved £907.200 (estimate: £450.000-650.000); and a new auction record was set for Léon Spilliaert whose Phare sur la digue sold for £982.800.
Sarah Sze's Spell also sets auction record
Other notable results include Annie Morris’s Stack 8, Viridian Green (realised £302.400, 68% above high estimate) and Vilhelm Hammershøi’s Landskab. Sommer, Fra Ryet ved Farmuse (realised £1.250.000, 79% above high estimate).
The top ten lots: here is the list
Lucian Freud – Ria, Naked Portrait | £11,810,000 | $15,435,670 |
Jeff Koons – Balloon Monkey (Blue) | £7,555,000 | $9,874,385 |
David Hockney – More Woldgate Timber, October 13th 2009 | £4,638,000 | $6,061,866 |
Richard Prince – Hurricane Nurse | £4,184,250 | $5,468,815 |
Willem de Kooning – Untitled XVIII | £3,488,500 | $4,559,470 |
Lucian Freud – Head of a Woman | £3,428,000 | $4,480,396 |
And Ruscha – Start Over Please | £3,186,000 | $4,164,102 |
Cecily Brown – The Skin of Our Teeth | £3,065,000 | $4,005,955 |
Le Corbusier - Two figures in yellow tree trunks | £2,581,000 | $3,373,367 |
Rene Magritte – The grand style | £2,581,000 | $3,373,367 |