Sotheby’s has achieved the second highest total for any sale ever held in London with its June 25, 2015 Evening Sale of Impressionist & Modern Art, realizing £178.6m / $282.1m / €250.9m against a pre-sale estimate of £140.3-203.2m / $221.5-320.9m / €197-285.5m. An unprecedented seven works sold for over £10m including Gustav Klimt’s 1902 “Portrait of Gertrud Loew - Gertha Felsőványi,” which after a ten minute bidding battle sold for £24.8m / $39.1m / €34.8m — the second highest price for a portrait by the artist at auction. A new record was also set for any sculpture by Degas whose “Petite danseuse de quatorze ans” (1922) sold for £15.8m / $24.9m / €22.2m.Helena Newman, Sotheby’s Co-Head, Impressionist & Modern Art Worldwide, said: “Tonight’s sale was led by three exceptional restituted works, each of the highest calibre and each with its own story to tell. Over recent years advances in the process restitution have added a new dimension to our sales, bringing to the market outstanding works such as those offered tonight by Klimt, Liebermann and Malevich. It’s hugely rewarding to see these paintings such strong prices achieved for the heirs of their original owners.”Melanie Clore, Chairman, Sotheby’s Europe & Co-Chairman Worldwide, Impressionist & Modern Art, said: “Tonight’s result is testament to the truly outstanding quality of the works on offer. To follow our highest totals for Impressionist and Modern art sales in New York, with another sensational sale in London, emphasises the strength of what is undoubtedly a truly global market. Our worldwide network of specialists are working with a broader collector base than ever before, so whether it’s New York, London, or any of our worldwide selling locations, we are seeing incredibly strong results across the board.”
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