London Daily

Focus on the big picture.
Friday, Jun 20, 2025

Sotheby’s Fetches US$597 Million Across 3 Sales

Sotheby’s Fetches US$597 Million Across 3 Sales

A Monet water lily achieves US$70.4 million, and the Lucas Museum buys Robert Colescott’s George Washington Carver Crossing the Delaware

A late water lilies painting by Claude Monet achieved US$70.4 million and Jean-Michel Basquiat’s Versus Medici, achieved US$50.8 million during a marathon evening of auctions at Sotheby’s in New York on Wednesday.

Monet’s Le Bassin aux Nymphéas, painted from 1917-19 was estimated to sell in the region of US$40 million. The monumental, richly colored painting, attracted heated bidding over nearly five minutes during the impressionist and modern leg of the sales, ping-ponging between specialists in Hong Kong and New York before it was secured by a buyer on the phone with Gregoire Billault, Sotheby’s incoming chairman of contemporary art at a hammer price of US$61 million.

This Nymphéas was last sold at Sotheby’s in 2004 for US$16.8 million.

Versus Medici, 1982, which depicts a dominant Black figure as “an avenging figure of art history,” according to Sotheby’s, was estimated to sell for between US$35 million and US$50 million. After seven minutes of bidding between buyers on the phones with specialists in New York and London, it was sold to a bidder working with Lisa Dennison, Sotheby’s chairman of the Americas. The painting had been in the same private collection for more than 30 years.

Claude Monet, Le Bassin aux Nympheas, which sold for US$70.4 million at Sotheby's on Wednesday.


It was the second big sale of a Basquiat this week, following Christie’s Tuesday evening auction of the artist’s In This Case, 1983, which sold for US$93.1 million with fees.

In total, three auctions—which included the collection of Mrs. John L. Marion, a contemporary art sale and a sale of impressionist and modern art—totaled US$597 million with 93% of lots sold. The auctions were live-streamed consecutively with specialists on the phones in New York, London, and Hong Kong, although for the first time since the pandemic there were a limited number of bidders in Sotheby’s New York sale room, which had been redesigned for the evening by David Korins —the set designer for the Broadway show of Hamilton.

Contemporary art drew a total of US$218.3 million with fees, above the high estimate for the sale at US$194.3 million, with 100% of the lots sold. The impressionist and modern sale realized US$221.3 million, above a high estimate of US$219.3 million, and was 94% sold. The Marion sale achieved US$157.2 million, within its estimate range.

The evening was marked by several long bidding sessions that at times included many buyers working against one another from across the world, indicating broad enthusiasm at the high end of the art market. Most buyers were on the phones with specialists, although online bidders participated too.

In all there were 11 auction records for artists across the three sales, including records for Leonor Fini, Childe Hassam, a painting by Jeff Koons, Harold Ancart, Kenneth Noland, Larry Rivers, Raymond Pettibon, Elizabeth Peyton, and Salmon Toor.

Among the new records was also Robert Colescott’s George Washington Carver Crossing the Delaware, 1975, which was secured by The Lucas Museum of Narrative Art in Los Angeles, Calif., for US$15.3 million with fees. The price was more than 16 times the artist’s previous auction record, and was achieved after a seven-minute bidding session for this reframing of Emanuel Leutze’s Washington Crossing the Delaware, 1851.

The museum was founded by filmmaker George Lucas and his wife, Mellody Hobson, co-CEO of Ariel Investments.

In another highlight, Cy Twombly’s Untitled (Rome), from the artist’s Blackboard series, sold in less than two minutes for US$41.6 million during the contemporary sale. The painting had been in the same private collection for 30 years.

The fiercest bidding of the night was for Banksy’s Love is in the Air, which sold for a hammer price of US$11 million—US$12.9 million with fees—after a 15-minute bidding battle. The estimate for the painting rendered in spray paint and oil on canvas was US$3 million to US$5 million.

Sotheby’s is allowing the buyer of the Banksy to pay in cryptocurrency, which it says is a first for an auction house involving a physical artwork. Sotheby’s did not say whether the anonymous buyer will actually do so, however.

Bidding throughout the night often included several potential buyers, with many key works by contemporary and impressionist stalwarts being snapped up eventually by bidders out of Asia, according to Sotheby’s.

The evening began with several significant sales from the Marion collection, with Andy Warhold’s Elvis 2 Times, 1963, achieving US$37 million, with fees, and Clyfford Still’s PH-125 (1948-No. 1), achieving US$30.7 million, with fees.

Richard Diebenkorn’s Ocean Park #40, 1971, fetched an auction record for the artist of US$27.3 million with fees, after nearly five minutes of bidding. The painting was last bought at Sotheby’s in 1990 for US$880,000.

Gerhard Richter’s Abstraktes Bild, sold to a buyer in Asia for US$23.2 million, above an estimated range between US$14 million and US$18 million.

In the impressionist and modern sale, Pablo Picasso’s Femme assise en costume vert, an image of the artist’s partner for a decade, Françoise Gilot, achieved nearly US$21 million with fees, going to a buyer on the phone with a specialist in Hong Kong. The work had last been seen at auction in December, 1986, at Sotheby’s in London selling for US$568,000.

Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
Nationwide 'No Kings' Protests Challenge Trump's Leadership
UK Deploys Jets to Middle East Amid Rising Tensions
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
Germany Holds First Veterans Celebration Since WWII
U.S. Health Secretary Dismisses CDC Vaccine Advisory Committee
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×