Christie’s Impressionist/Modern Sale: Solid Results Continue

Christie’s went out on a limb in its presale press release for tonight’s Impressionist/Modern sale, predicting that Gris‘ “Le Pot de Géranium” and Signac‘s “Arrière du Tub” (the cover lot) would break those artists’ auction records.
They did: The Signac brought $11.69 million (with buyers premium). The Gris went for $18.52 million doubling the artist’s previous auction record and locked in a three-way tie for top-lot honors, along with Picasso‘s “Tête et Main de Femme” and, most surprisingly, Giacometti‘s “Falling Man” (above), estimated to bring a hammer price of only $6.5-8.5 million (actual hammer price: $16.5 million). The Giacometti set an auction record, as did another estimate-trouncer—Miro‘s “Projet Pour un Monument,” setting a record for a sculpture by the artist at $9.9 million ($8.8 million hammer, against $3.5-5 million estimate).
Top flop, just like last night at Sotheby’s, was a Modigliani: “La Femme au Collier Vert,” estimated at $12-16 million but unsold.
The sale total: $236.46 million, compared to $278.55 million at Sotheby’s. Hammer total: $208.74 million, within the $180-245 million presale estimate. Ten of the 78 works in the sale went unsold. Buyers were 29% American, 48% European, only 2% Asian.
Americans should be a more dominant factor next week, when we get contemporary.