The other night, Sotheby's London held its Old Master and British Painting evening sale, and the results were very solid for what is sometimes considered a less than exciting sector. The sale totaled $31.36 million including buyers premiums, offering 38 lots. Of the 38 lots offered for sale 26 sold for a decent but not stellar sell through rate of 68.4%. The sale did sell 89.5% by value which shows that the lots that sold, most sold well.
The pre-sale estimate for the sale was $27.5 million to $37.82 million. The top selling lot was a pair of paintings by Johann Zoffany selling as a single lot for $10.56 million including buyers premium against a pre sale estimate of $9.38 million to $12.5 million. Of the top eleven lots (there was a tie between 10 and 11) 3 buyers were listed as anonymous, three to the trade and 5 were listed as private collectors.
Sotheby's reported on the sale
Alex Bell, Sotheby's Co-Chairman, Old Master Paintings, Worldwide, said: "Tonight's strong result brings Sotheby's global total of Old Master & British Paintings sales to £158,498,882 / $247,306,435, representing an eleventh successive year of leading in Old Master Paintings auction sales. We were extremely pleased that the
carefully selected group of works offered tonight was enthusiastically sought after by both private and trade buyers across an international spectrum."
Emmeline Hallmark, Sotheby's Head of Early British Paintings, comments: "The sale of the exceptional pair of paintings by Johann Zoffany, which are among the greatest 78th Century works to come to the market in a decade, is a triumph for British Painting. The artist's innovation in originating these 'conversation pieces' marked a
change in the course of art history, and their exceptional quality was reflected in the competitive bidding tonight."
Further Records For Artists At Auction Achieved:
In addition to the record price achieved for Jan Havicksz Steen, Cornelius Engebrechtsz's The Crucifixion with the Virgin Mary, Saints Mary Magdalene, John the Baptist, Peter and an unidentified male saint sold for £121,250 /$189,441/ €141,560, against a pre-sale estimate of £100,000-150,000.
Other Notable Prices Achieved:
David Teniers the Younger's A Guardroom Scene with Tric-Trac Players in the Foreground fetched a strong price of £481,250/ $751,905/ €561,861 (pre-sale est. £400,000-600,000).
Attributed to Lucas Cranach the Younger Young Lady Three Quarter Length, in a Green Velvet and Orange Dress and Pear-Embroidered Black Hat fetched the above-estimate sum of £1,385,250/ $2,164,315/
€1,617,284 (pre-sale est. £800,000-1,200,000).
Offered at auction for the first time, Alberto Pullicino's Seven Views of Malta fetched £289,250/ $451,924/€289,250 (pre-sale est. £200,000-300,000). The works represent the largest and most complete set of views of the island and harbours of Malta to have survived from the eighteenth century, and the only such set to have remained together since its acquisition or commission.
A Continental School, early 19' Century Landscape with Bengal Tigers sold for more than double its pre-sale high estimate, fetching £301,250/ $470,673/ €351,710 (pre-sale est. £80,000-120,000).
Andrea Solario and Studio's oil on panel Ecco Homo sold for more than four times its high estimate, fetching £385,250 / $601,915 / €449,781 (pre-sale est. £60,000-80,000).
Strong Prices Achieved for British Paintings
Offered at auction for the first time, Joseph Wright of Derby's Virgil's Tomb by Moonlight fetched the well above high estimate sum of £1,497,250/ $2,339,303/ €1,748,045 (pre-sale est. £600,000-800,000).
An instantly recognisable masterpiece of the British Romantic movement the work was painted in 1779 and is one of a distinguished group of paintings inspired by the artist's travels in Italy.
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