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    Leger's Le cinq de trefle Achieves $1.1 Million at Christie's NY Impressionist and Modern Art

    Date: 10 May 2009 | | Views: 2152

    Source: ArtDaily

    NEW YORK - The Impressionist and Modern Art Works on Paper and Day sales took place today at Christie's NY (May 7 2009) and realized a combined total of $20,659,000/ Ł13,772,800 / ˆ15,417,314, with a sell-through rate of 90% by value. The top price of the day was achieved for Fernand Léger’s Le cinq de trčfle, 1947 which achieved $1,112,500/ Ł741,667/ ˆ830,224.

    Combined with results from yesterday’s Evening Sale, total sales for this week’s Impressionist and Modern Art sales were $123,426,200/Ł82,284,133/ ˆ92,109,104.

    Sharon Kim, Head of Sale, comments: “We are pleased to report a second strong day of results for Impressionist and Modern Art, with over $20,659,000 in combined sales for today’s two sessions and a sell-through rate of 90% by value. The 66-lot morning session of Works on Paper exceeded its high estimate to achieve $5,147,000, led by Marc Chagall’s Talmudiste Endormi at $1,082,500. We were particularly pleased with the success of the afternoon session’s cover lot, Fernand Léger’s Le cinq de trčfle, 1947 which realized $1,112,500, as well as the run-away success of Otto Mueller’s Landschaft, circa 1925, which sold for $722,500 against a pre-sale estimate of $150,000-200,000. Bidders seemed energized by the strong results from last night’s Evening Sale at Christie’s, which achieved $102,767,000 and was 94% sold by value. In all, this week’s sales totals have re-confirmed the strength and confidence of the Impressionist & Modern Art market.

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