Buyers snapped up all works offered at Sotheby’s from the renowned art patron and collector on Wednesday
The collection of Emily Fisher Landau—the star single-owner sale of this New York art auction season—didn’t disappoint on Wednesday evening at Sotheby’s as all 31 works sold for a total of US$406.4 million, including a painting by Pablo Picasso of his lover Marie-Thérèse Walter for US$139.4 million.
None of the works owned by the late art patron and collector Fisher Landau had appeared at auction before, and most were bought years ago. She purchased the Picasso in 1968 from Pace Gallery in New York, for instance. According to Sotheby’s, the only other 1932 work by Picasso of similar quality to come to market in recent years was Nude Green Leaves and Bust, which achieved US$106 million at a Christie’s auction in May 2010. Picasso was prolific that year, painting several notable works that were the subject of a 2018 exhibition at the Tate in London.
Still, the result boded well after a weaker sale of contemporary and ultra-contemporary art at Christie’s on Tuesday evening, where the priciest lot of the auction, an untitled work by Cy Twombly from his Bacchus series, sold below estimates for a hammer price of US$17 million, or nearly US$20 million with fees.
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