Sotheby’s achieved $303.9 million in its modern art auction in New York, led by Henri Matisse’s *La Chaise Lorraine* (circa 1919) at $48.4 million and Pablo Picasso’s *Arlequin (Buste)* at $42.6 million. The sale included an auction record for a painted bottle, René Magritte’s *Femme-bouteille* (1955), which sold for $974,000. The auction featured conservatively priced material from smaller estates, with a 97.6% sell-through rate and a 63% increase over a similar sale last year.
The result underscores sustained momentum in the art market, with strong bidding from Asian collectors and newly wealthy individuals. Sotheby’s head Julian Dawes noted that collectors are actively seeking works, particularly Surrealist and modernist pieces. The auction, alongside strong sales at Christie’s and Phillips, signals robust demand even as the market adjusts to fresh, moderately priced consignments.