More Solid Sales At Sotheby's London
Sotheby's London held its Summer Sale of Contemporary Art on Monday, hitting a solid, if not sky-high total of £41,091,800 ($61,806,176) which was within pre-sale expectations of £38,330,000- 52,830,000. The total was the third highest total for a Summer Sale of Contemporary Art at Sotheby's London and represented a 60 percent increase over the equivalent sale last year. Yves Klein's RE 49, Relief Eponge Bleu, which was from the collection of HVB Group, the German banking unit of UniCredit SpA, sold for 6.2 million pounds. A 1964 Richter painting, "Neger (Nuba)," sold for 3.7 million pounds against a low estimate of 3.5 million pounds. Concetto Spaziale, La Fine di Dio by Lucio Fontana sold for £4,745,250 ($7,137,331) against an estimate of £4.5-5.5 million.The sale had sell-through rates of 83% by lot and 87.3% by value with 45.4% of the sold lots selling above their pre-sale high estimates.