Sotheby's Two Day Latin American Art Sale
Sotheby’s spring Latin American art sale concluded with an overall total of $16,777,050 with 69% of the lots sold and a sold by value rate of 72%. There were seven new artist records, most significantly for Wifredo Lam’s Sur La Traces (Transformation), which sold for $1,426,500.
The highlight of the evening session was a group of ten Masterworks from a Private Collection, Aspen, which was 100% sold and totaled $4,256,250. As well as Sur La Traces (Transformation) the collection included major works by Matta, Leonora Carrington and Rodolfo Morales that were enthusiastically received. From a different consignor Diego Rivera’s Portrait of Gladys March, which came with a remarkable archive of Rivera material, inspired competition, selling to North American Private Collector for $662,500, more than double the high estimate of $275,000.
Surrealism
Leonora Carrington’s The Ordeal of Owain, a 1959 work that draws on the artist’s Celtic ancestry sold for $722,500 – one of many strong prices for surrealist works in the sale. Following the strong prices seen last fall, Matta continued to be in demand with an Untitled work from 1951 fetching $692,500. Matta paintings were in demand in the day sale as well: L'enfance Du Jeu, comfortably exceeded the high estimate to sell for $182,500, as did an Untitled painting from 1970 which fetched $110,500.
Non Figurative and Abstract Works
Abstract Works were highly sought after by collectors with a number of strong prices. Jesús Rafael Soto continued to be in demand: Escritura Negra a la Izquierda soared over the high estimate to sell for $422,500 (est. $200/300,000), Cadmio Central also exceeded pre-sale expectations to sell for $194,500 and Escritura Lila sold for $ 254,500. Physichromie Nº 321-A by Carlos Cruz-Diez sold for $326,500 well over the estimate (est. $200/250,000)while Mensaje, a very large gold perforated metal work by Mathías Goeritz doubled the low estimate to sell for $386,500 (est. $150/250,000). Emilio Pettoruti’s Armonia-Movimento Spazio-Disegno Astratto, which is perhaps one of the earliest abstract works by a Latin American artist, fetched $80,500.
Realism
White and Yellow Package, from 2005 by Claudio Bravo was sought after by several bidders before selling for $458,500, and Polo Player by Florencio Molina Campos sold for many multiples of the high estimate when is fetched $74,500 (est. $10/15,000).
Brazilian Artists
Among the many strong prices for works by Brazilian artists was an Untitled painting by Vicente Do Rego Monteiro which soared above the high estimate to sell for $74,500 (est. $15/20,000). Regina Vater’s Tina America was also highly sought after and sold for $37,500 (est, $8/10,000) and Moça Com Tamboe, by Reynaldo Fonseca more than doubled the low estimate to sell for $37,500 (est. $15/20,000).
*Amounts are in dollars. Estimates do not include buyer´s price.
