Following the Macklowe Collection’s white-glove sale, the Modern Evening Auction saw glittering results at Sotheby’s New York. Amongst 58 lots offered, 51 were sold and garnered an 87.9 per cent sale rate. The sale total achieved US$408 million dollars – ranking as the third highest total for an auction at Sotheby’s.
Picasso’s Femme nue couchee – a depiction of lover and muse, Marie-Therese Walter – was the sale’s most expensive lot and fetched US$67.5 million dollars. Alongside his work, Monet’s Le Grand Canal et Santa Maria della Salute and Cezanne’s Clairiere (The Glade) paintings were the second and third most expensive lots. Each of the two paintings both realised more than US$40 million dollars.
During this sale, four artists' auction records were also broken.
Lot 23 | Pablo Picasso | Femme nue couchee, Oil and ripolin on canvas
Created in 1932
129.9 x 161.7 cm
Provenance:
- The Artist
- Estate of the artist
- Private Collection (acquired by descent from the above)
- Acquired from the above on 2 May 2008 through Gagosian Gallery by the present owner
Estimate upon request (Expected to fetch 60 million)
Hammer Price: US$58,500,000
Sold: US$67,541,000
The Modern Evening Auction saw a fully packed audience
The auctioneer, Oliver Barker, started the bidding at US$55 million dollars. The hammer was dropped at US$58.5 million dollars, and the winning bid was by an auction room bidder with paddle number 908. In the end, it fetched US$67.5 million dollars with buyer’s premium.
During his life, Picasso had a lot of romantic connections with women – two wives, six mistresses and many short-term relationships. Some of these female companions were sources of inspiration for the Spanish artist. In 1927, Picasso met Marie-Therese when she was 17 while he was 45 years old. Despite still being married to his first wife, Olga Khokhlova, Marie-Therese became the inspiration for some of his most iconic works – including this present painting, Femme nue couchee.
Pablo and Marie-Therese
In late 1931 and early 1932, Picasso first cast his artistic spotlight on Marie-Therese. Up until this point he had only made references to his extramarital affair with her in code – sometimes embedding her symbolically in a composition or rendering her unmistakable profile as a feature of the background. He could no longer repress the creative impulse that his lover inspired – especially as his marriage grew increasingly unbearable.
His love affair with Marie-Therese was inseparable from the sea – as the two spent their time together at the beach in Cannes and Dinard. Marie-Therese was a proficient swimmer, and Picasso was inspired by her movements. In this present painting, Marie-Therese is depicted as an aquatic animal – with limbs stretched like tentacles – as they cradle her sleeping head, extending back to accentuate her graceful figure.
Steve Cohen
Femme nue couchee was kept in Picasso's estate for many years, and collectors later bought it directly from his family. According to Western media reports, the painting is in the Collection of American billionaire Steve Cohen – a hedge fund manager on Wall Street.
According to Forbes, he has a net worth of US$17.4 billion dollars. The mogul is an avid art collector and acquired many masterpieces by famous artists since 2000. For example, he spent US$141 million dollars on Swiss sculptor, Alberto Giacometti’s L'Homme au doigt at Christie's New York in 2015 – the most expensive sculpture ever sold at auction.
Lot 8 | Claude Monet ￨ Le Grand Canal et Santa Maria della Salute, Oil on canvas
Created in 1908
73.5 x 92.5 cm
Provenance:
- Galerie Bernheim-Jeune, Paris and Galerie Durand-Ruel, Paris (acquired from the artist in half shares on 10 April 1912)
- Galerie Durand-Ruel, Paris (acquired remaining half-share from
- Galerie Bernheim-Jeune on 1 June 1912)
- Galerie Durand-Ruel, New York (acquired by transfer from the above in October 1912)
- Joseph F. Flanagan, New York (acquired from the above on 28 October 1912)
- Galerie Durand-Ruel, Paris (acquired from the above on 2 April 1917)
- Colonel Henry D. Hughes, Philadelphia and New York (acquired from the above circa 1921)
- Mrs. Henry D. Hughes, Philadelphia (widow of the above; acquired by descent from the above and until at least 1936)
- Van Diemen-Lilienfeld Gallery, New York
- Dr. Peter Nathan, Zurich
- Susumu Onishi, Japan (acquired from the above in 1989)
- Private Collection, Europe (acquired from the above in 1994)
- Thence by descent to the present owner
Estimate upon request (Expected to fetch US$50 million)
Hammer Price: US$49,000,000
Sold: US$56,625,500
Brooke Lampley with the winning bid
Monet and Alice in Piazza San Marco, Venice
The bidding started at US$46 million dollars. After more than 5 bids, the hammer was dropped at US$49 million dollars. The winning bid was by Brooke Lampley, Chairman, Worldwide Head of Sales; for her client with paddle number 81. In the end, it garnered US$56.6 million dollars with buyer’s premium.
In 1908, Monet visited Venice with his second wife, Alice Hoschede. The couple was invited by a wealthy American lady, Mary Young Hunter, to visit her at the Palazzo Barbaro. It was here that the French artist captured some of the most iconic images of his career.
During his three-month stay, Monet painted 37 paintings with Venice as their main source of inspiration. He soon set to work on a group of paintings that expanded his traditional interest in seriality – the practice of painting the same motif at different times of the day. With a heightened degree of observation, Monet created a new approach to his series paintings – recording the same location from the same perspective – at the same time each day. This structure allowed Monet to concentrate on the visual effects produced by the shimmering haze of Venice.
Claude Monet's Le Grand Canal (1908) ￨ Sotheby's London, 2015 ￨ Sold: £23.6 million
Another painting as part of Le Grand Canal series – now in the Museum of Fine Arts, Boston
This work was part of a series of six paintings that Monet created from the steps of the Palazzo Barbaro, looking down the Grand Canal and towards the Salute Church.
Most of these six works are in distinguished museums’ collections across the globe – including the Museum of Fine Arts, Boston; Fine Arts Museums of San Francisco and Fondation Beyeler in Basel. Amongst the six works, Le Grand Canal sold for £23.6 million pounds (around US$30.9 million dollars) at Sotheby’s London in 2015. As for this present painting, it was not exhibited for 25 years. The last public exhibition dates back to 1997 at the Kimbell Art Museum in Texas, USA.
View of Venice's Grand Canal and Santa Maria della Salute Church
Lot 16 | Paul Cezanne | Clairiere (The Glade), Oil on canvas
Created in 1895
100.3 x 81.2 cm
Provenance:
- Baron Denys Cochin, Paris
- Ambroise Vollard, Paris (acquired on 26 October 1899) (possibly) Auguste Pellerin, Paris (acquired by March 1901)
- Emil Staub-Terlinden, Männedorf (acquired by 1923)
- Wildenstein Galleries, New York (acquired from the above in 1942)
- Acquired from the above in 1942 by the present owner
Estimate: US$30,000,000 – 40,000,000
Hammer Price: US$36,000,000
Sold: US$41,688,500
Helena Newman with the winning bid
The auctioneer started the bidding at US$24 million dollars. After more than 15 bids, the hammer was dropped at US$36 million dollars. The winning bid was by Helena Newman, Chairman, Europe; for her client with paddle number 27. In the end, it realised US$41.6 million dollars with buyer’s premium.
During the last decade of his career, Cezanne’s choice of motifs developed in two different directions. In the first – exemplified by his many late views of the Mont Sainte-Victoire – the artist portrayed open and expansive scenes dominated by a sense of freedom and spaciousness. In the second – exemplified by the present work – he focused on densely wooded scenes through which a small portion of the sky is visible.
Measuring 100.3 x 81.2 cm, Clairiere (The Glade) is one of the French artist’s largest landscape paintings. In 1923, it became part of Emil Staub-Terlinden’s Collection. After the death of the Swiss industrialist and prominent art collector, his widow sold the painting through the Wildenstein Gallery to the Toledo Museum of Art. The painting was consigned to Sotheby's, with its proceeds used to purchase a new collection.
Cezanne's Sous-Bois (1893-1894), 116 x 81 cm | Los Angeles County Museum of Art
Cezanne's Rochers, Pins et Mer a L'Estaque (1883-1885) | Staatliche Kunsthalle, Karlsruhe
During this sale, new auction records were set for four artists:
Lot 44 | Milton Avery | The Letter, Oil on canvas
Created in 1945
86.4 x 121.9 cm
Provenance:
- Paul Rosenberg & Co., New York (acquired directly from the artist)
- The Fox Gallery, New York
- Acquired from the above in 1974 by the present owner
Estimate: US$2,500,000 – 4,000,000
Hammer Price: US$5,000,000
Sold: US$6,069,500
Lot 48 | Maximilien Luce | Baigneuses a Saint-Tropez, Oil on canvas
Created in 1892
129.5 x 161.7 cm
Provenance:
- Frédéric Luce, Paris (son of the artist)
- Walter P. Chrysler Jr., New York (acquired from the above by 1960)
- Private Collection, New York
- Parke-Bernet Galleries New York, 10 March 1971, lot 11 (consigned by the above)
- Private Collection, New York (acquired at the above sale)
- Jacques Martin et Gilles Chausselat, Versailles, 28 June 1981, lot 109
- Ron Hall Gallery, Dallas
- Private Collection (acquired from the above in 1983)
- Christie’s New York, 11 November 1992, lot 42 (consigned by the above)
- Acquired at the above sale by the present owner
Estimate: US$2,000,000 – 4,000,000
Hammer Price: US$3,700,000
Sold: US$4,527,000
Lot 5 | Leonora Carrington | The Garden of Paracelsus, Oil on canvas
Created in 1957
85.1 x 120 cm
Provenance:
- Galería de Arte Mexicano, Mexico City
- Arnold Scaasi, New York (acquired from the above)
- Di Donna Galleries, New York (acquired from the estate of the above)
- Acquired from the above by the present owner
Estimate: US$1,200,000 – 1,800,000
Hammer Price: US$2,650,000
Sold: US$3,256,500
Lot 52 | Jared French | The Double, Tempera on board
Created in circa 1950
57.2 x 78.4 cm
Provenance:
- Lincoln Kirstein, New York (acquired directly from the artist)
Estate of the above - The School of American Ballet, New York (acquired as a gift from the above)
- Christie's New York, 5 June 1997, Lot 94 (consigned by the above)
- Acquired by the present owner at the above sale
Estimate: US$200,000 – 300,000
Hammer Price: US$850,000
Sold: US$1,071,000
Other highlight lots:
Lot 46 | Claude Monet | Les Arceaux de roses, Giverny; Oil on canvas
Created in 1913
81.5 x 93.5 cm
Provenance (Amended by The Value):
- Offered by the artist to a benefit auction Au Profit de la Fraternité des Artistes, Georges Petit, Paris, 1 May 1917, Lot 64
- Galerie Durand-Ruel, Paris (acquired at the above sale)
- Durand-Ruel Galleries, New York (acquired by transfer from the above in December 1917)
- Jean d'Alayer, Paris (acquired from the above in 1949)
- Sam Salz, Inc., New York (probably acquired from the above)
- Mr. and Mrs. Charles Goldman, New York (acquired circa 1959)
- Sotheby Parke Bernet & Co., New York, 21 March 1962, Lot 72 (consigned by the above)
- Jérôme Taishoff, New York (acquired at the above sale)
- Milton E. Cassel, New York (acquired from the estate of the above in 1965)
- Christie’s London, 18 June 2007, Lot 11 (consigned by the above)
- Private Collection, Europe (acquired at the above sale)
- Sotheby's New York, 14 November 2017, Lot 43, Sold: US$19,412,000
- Acquired at the above sale by the present owner
Estimate: US$20,000,000 – 30,000,000
Hammer Price: US$20,000,000
Sold: US$23,304,500
Lot 15 | Philip Guston | Nile, Oil on canvas
Created in 1958
164.8 x 191 cm
Provenance:
- Sidney Janis Gallery, New York
- Mrs. Elizabeth B. Blake, Dallas (acquired from the above in 1958)
- Mr. Douglas Blake, Dallas (acquired as a gift from the above)
- Janie C. Lee Gallery, Houston
- Peter and Edith O'Donnell, Dallas (acquired from the above in 1978)
- Thence by descent to the present owner
Estimate: US$20,000,000 – 30,000,000
Hammer Price: US$16,000,000
Sold: US$18,000,000
Lot 28 | Amedeo Modigliani | Madame Dorival, Oil on canvas
Created in 1916
61.2 x 46 cm
Provenance:
- M. and Mme. Dorival, Paris (acquired directly from the artist)
- Léon Zamaron, Paris
- Helena Rubinstein, New York (acquired by 1952)
- Sotheby’s New York, 20 April 1966, Lot 31 (consigned by the estate of the above)
- Private Collection, New York (acquired at the above sale)
- Thence by descent to the present owner
Estimate: US$10,000,000 – 15,000,000
Hammer Price: US$15,000,000
Sold: US$17,559,500
Lot 26 | Alberto Giacometti | Femme de Venise II, Bronze
Created in 1976
Height: 122 cm
Provenance:
- Annette Giacometti, Paris
- Thomas Gibson Fine Art, Ltd., London
- Private Collection, New York
- Acquired from the estate of the above by the present owner
Estimate: US$8,000,000 – 12,000,000
Hammer Price: US$15,000,000
Sold: US$17,559,500
Lot 18 | Henri Matisse | Fleurs ou Fleurs devant un portrait, Oil on canvas
Created in 1923
100.3 x 81.2 cm
Provenance:
- Josse and Gaston Bernheim-Jeune, Paris (acquired from the artist on 17 December 1923)
- Josse Bernheim-Jeune, Paris (acquired by transfer from the above)
- Galerie Bernheim-Jeune, Paris (acquired from the above on 3 November 1933)
- Acquired from the above in 1935 by the present owner
Estimate: US$12,000,000 – 18,000,000
Hammer Price: US$13,000,000
Sold: US$15,261,500
Lot 29 | Pablo Picasso | L’Etreinte (The Embrace), Oil on canvas
Created in 1969
162 x 130 cm
Provenance:
- Galerie Louise Leiris, Paris
- Acquired from the above by the present owner
Estimate: US$12,000,000 – 18,000,000
Hammer Price: US$12,000,000
Sold: US$14,112,500
Auction Details:
Auction House: Sotheby’s New York
Sale: Modern Evening Auction
Date: 17 May 2022
Number of lots: 58
Sold: 51
Unsold: 7
Sale Rate: 87.9%
Sale Total: US$408,458,200