Published: December 18, 2012
Christie’s two-day sales of Latin American art on November 20 and 21 totaled $17,966,450 and achieved 30 world auction records.
The evening session on November 20 realized $13,614,800 and was sold 77 percent by lot and 86 percent by value. The top lot of the sale was Fernando Botero’s “Horse,” which achieved $938,500
Virgilio Garza, head of Latin American department, said, “The energetic, selective market for Latin American art was highlighted by Modern masters such as Botero, Tamayo, Zúñiga, Iberê Carmargo, and achieved new world auction records for contemporary artists like Olga de Amaral and Oscar Muñoz. Both collectors in the saleroom and online were excited by the spectacular price realized for the rediscovered ‘Portrait of Linda Christian’ by Diego Rivera.” That work, an oil on canvas from 1947, brought $578,500.
Additional sale highlights included Rufino Tamayo, “Tres personajes en un interior,” 1970, oil and sand on canvas, $698,500; Tomás Sánchez, “Buscador de paisajes,” 2005, acrylic on canvas, $626,500 (world auction record for the artist); and “legada del caminante a la laguna,” 1999, acrylic on canvas, $602,500.
Botero’s “Nun Eating an Apple,” 1981, an oil on canvas, also finished at $602,500, while Francisco Zúñiga’s “Juchiteca sentada,” Carrara marble, executed in 1972‷9, brought $554,500 and an untitled oil on canvas work painted in 1944 by Wifredo Lam went out at $482,500.
Rounding out the evening sale’s top ten lots were Candido Portinari, “Lampião e Maria Bonita,” 1947, oil on canvas, $482,500, and Iberê Camargo, “Jogo de carretéis I,” 1967, oil on canvas, $422,500 (world auction record for the artist).
Garza added, “Building from the excitement of great prices achieved in the Latin American evening sale, we had an energetic day session of Latin American art, demonstrating the strength of the middle market across all categories, ranging from the Spanish colonial to the contemporary. There was fast-paced and spirited bidding in the room and online, with 18 percent of lots bought or directly underbid by a Christie’s Live client. Thirty auction records were achieved over the two days of Latin American sales, which included Arnaldo Roche Rabell, Tomás Sánchez, Olga de Amaral, Carmen Herrera, Iberê Camargo and Oscar Muñoz.”
Prices reported include the buyer’s premium.
After the sale results were posted, Christie’s and the Americas Society announced the Americas Society Visual Arts Endowment Benefit Auction in May. The auction will include a selection of works donated to the Americas Society that will be offered in conjunction with the Latin American sale with all proceeds to benefit the society’s visual arts department through the creation of an endowment for its programs.
For information, 212-636-2000 or www.christies.com .
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