Sotheby's three-part modern art evening auction in New York on Thursday night achieved a total of $304.6 million, a dramatic increase from the $93.1 million equivalent sale last year. The sale featured 69 lots, with three withdrawn and none bought in, resulting in a 95% sell-through rate. Top lots included Vincent van Gogh's still life "Piles de romans parisiens et roses dans une verre" (1887), which sold for $62.7 million with premium to private advisor Patti Wong, and a work by Frida Kahlo. Third-party guarantees covered 55% of the presale low estimate, but bidding remained competitive throughout.
This auction signals a significant recovery in the art market, with advisor Nicholas Maclean noting that the market is in a much better place than the previous season. The strong results, driven by sensible estimates and competitive bidding, suggest renewed confidence among collectors and dealers, contrasting with the caution seen in 2023. The sale also highlights the continued dominance of blue-chip modern masters like van Gogh and Kahlo, and the role of private advisors in high-stakes bidding wars.