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Sotheby’s Buoyant $303.4 Million Modern Art Evening Sale: By the Numbers

Sotheby’s modern art evening sale on Tuesday night generated $303.4 million, with a 97.6% sell-through rate and a hammer total of $256.5 million. The top lot was Henri Matisse’s *La Chaise Lorraine* (circa 1919), which sold for $48.4 million after a prolonged bidding war. The house withdrew three lots before the sale to improve optics, and 85% of the lots were guaranteed, mostly by third parties. Asian collectors were active at seven-figure price points, contrasting with sparse high-end bidding at Christie’s the previous night.

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Phillips’ Evening Sale of Modern & Contemporary Art More than Doubles Auction Total from the Previous Year

Phillips’ Evening Sale of Modern & Contemporary Art achieved a total that more than doubled the previous year's auction result, driven by strong demand for works spanning the 19th to 21st centuries. The sale opened with three lots exceeding their high estimates, including record prices for Lee Bontecou's rare 'Untitled' (1985-2001), which set a new record for any two-dimensional work by the artist after nearly five minutes of bidding. Other records were set for Pat Passlof, P.S. Krøyer, and Joseph Yaeger. Top lots included Andy Warhol's 'Sixteen Jackies' ($16.2 million), Claude Monet's 'La Route de Vétheuil, effet de neige' ($9.9 million), and Jackson Pollock's 'Untitled' ($9.2 million). The sale also featured works from The Collection of Ambassador John L. Loeb, Jr., which achieved a combined $8.4 million, with two Vilhelm Hammershøi works acquired by prominent institutions.

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