Published: July 24, 2007
Sotheby’s sale of American paintings, drawings and sculpture on May 23 achieved $55,744,199 against an estimate of $31,638,000/47,257,000. It was 93.3 percent sold by value and 82.9 percent sold by lot.
The crowded sales room enjoyed lively bidding, the top lot being Albert Bierstadt’s “Mountain Lake,” selling to a phone bidder for $4,856,000.
Dara Mitchell, executive vice president and director of American paintings, drawings and sculpture, said, “We had a terrific sale. There was very competitive bidding at all price levels by a discerning group of clients. We noticed a very strong market specifically for American Impressionism, Nineteenth Century landscapes and American illustration.”
Other highlights from the sale included a patriotic painting by Norman Rockwell, “Home on Leave (Sailor in Hammock),” which sold for $4,520,000, and “Mrs William Crowninshield Endicott Jr” by John Singer Sargent, which sold for $2,168,000.
The sale set a record for the artist Edward Henry Potthast, with his “Beach at Far Rockaway” realizing $1,384,000. Eleven works sold for more than $1 million, with nine of those exceeding their high estimates.
Rounding out the sale’s top ten lots were Gilbert Stuart, “Dr William Smith,” $1,888,000; N.C. Wyeth, “Sweet Land of Liberty,” $1,496,000; Francis A. Silva, “Sailing on the Hudson, Nyack,” $1,384,000; Frank W. Benson, “Wooster Farm (The Farm at North Haven),” $1,272,000; Childe Hassam, “Rainy Day on the Avenue,” $1,272,000; and Martin Johnson Heade, “The Old Shipwreck,” $1,076,000.
Prices reported include the buyer’s premium, which is 20 percent of the hammer price on the first $500,000 and 12 percent thereafter. For information, 212-606-7000 or www.sothebys.com .
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