The auction totaled over $18 million including buyers premium, far higher than the pre sale estimate of $6.7 million to $10 million. Sotheby's reports a very impressive 74.9% of lots selling were sold for above the high estimate. The sale offered 199 lots with only 16 not selling for a 92% buy through rate. The sale sold 99.4% by value. The sale set 13 auction records, and interestingly enough, we again see a very high number of private collectors buying. 9 of the top 10 lots went to private collection with the other noted only as anonymous.
Gleadell reported on the sale
Prices for modern Czech art were going through the roof at Sotheby’s on Monday.
The auction of works from the Hascoe collection, which was previewed here last week, had doubled its £5 million pre-sale estimate mid way through the sale after landmark record prices were set for Frantisek Kupka (£1.5 million), Emil Filla (£623,650), Josef Capek (£565,250), Frantisek Foltyn (£433,250), and Bohumil Kubista (£397,250).
A 1924 futuristic sculpture of a man on a bicycle by Otakar Svec, cast from the original in the National Gallery of Prague, sold for £139,250, seven times its higher estimate.
Sotheby's reported on the sale.
Commenting on the results of today’s sale, Tessa Kostrzewa, Deputy Director of European Paintings at Sotheby’s London, and Filip Marco, Head of Sotheby’s Prague Office, said: “Today’s sale brought a landmark auction of Czech art to an international audience and succeeded brilliantly. Norman and Suzanne Hascoe assembled one of the most important private collections of Czech modernist art in existence and the market has responded with extraordinary enthusiasm. today's sale will be remembered for many years to come, with records set for many of the most important Czech artists of the 20th century."
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