Market Overview

One Week of Sales at Sotheby's Totals $752.3 Million

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From the Collection of David Bowie to Marquee Auctions of 20th & 21st Century Art, Jewelry and Beyond

Week of November Sales is 85% Sold

-Exceeding Overall Low Estimate by $180+ Million -

NEW YORK, Nov. 18, 2016 /PRNewswire/ -- Tad Smith, Sotheby's President & CEO, commented: "Beginning with the Bowie sales in London, continuing with the Impressionist and Modern evening and day sales in New York, adding the Geneva jewelry sale performance, and ending with the Contemporary evening and day sales in New York, Sotheby's has demonstrated that its consigning clients should be confident about the state of the markets, and its shareholders should be enthusiastic about Sotheby's future."

Sothebys_Art

Mike Goss, Sotheby's CFO, added: "We're feeling very good about our fourth quarter results, but even more importantly, we're looking forward to 2017 with a pronounced sense of optimism."

LONDON

David Bowie's Personal Art Collection Brings $41.1 Million, with Every Lot Sold

Over 55,500 Visitors Attend Worldwide Pre-Sale Exhibitions

The Three Sale Sessions Last Over 12 Hours, Attended by Over 1,750 Bidders

**

NEW YORK

Contemporary Art Sales Series Achieves $356.8 Million

The Triumph of Painting: The Steven & Ann Ames Collection Totals $131.3 Million

Evening Sale Led by Two Gerhard Richter Abstract Paintings,
Sold for $34 Million and $22.7 Million Respectively

Evening Sale Participation from 38 Countries, with Asian Participation Up 11% Year-on-Year

**

Impressionist & Modern Art Sales Series Brings $196.5 Million

Evening Sale Led by Edvard Munch's 'Girls on the Bridge', Sold for $54.5 Million
– $20+ Million More than Its 2008 Auction Price –

A New Auction Record for László Moholy-Nagy,
Whose 'EM 1 Telephonbild' was acquired by The Museum of Modern Art in New York

Day Sale Led by Diego Giacometti's Rare Octagonal Table, Sold for an Auction Record $3.8 Million

**

GENEVA

Magnificent Jewels & Noble Jewels Realize $136.4 Million

Highest Total for any Jewelery Sale across All Auction Houses this Autumn

Two Magnificent Pink Diamonds Each Soar Over $15 Million

The 8.01-Carat "Sky Blue Diamond" Achieves $17.1 Million

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Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Contemporary Art department, and two retail businesses, Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).

*Estimates do not include buyer's premium. Prices achieved include the hammer price plus buyer's premium and are net of any fees paid to the purchaser where the purchaser provided an irrevocable bid.

Images are available upon request
Browse sale catalogues, view original content, stream live auctions and more at www.sothebys.com, and through Sotheby's apps for iPhone, iPad, Android, Apple TV and Amazon Fire

 

New York | +1 212 606 7176 Lauren Gioia Lauren.Gioia@Sothebys.com | Darrell Rocha | Darrell.Rocha@Sothebys.com
London | +44 (0)20 7293 6000 | Mitzi Mina | Mitzi.Mina@Sothebys.com
Hong Kong | +852 2822 8129 | Winnie Tang | Winnie.Tang@Sothebys.com

Photo - http://photos.prnewswire.com/prnh/20161118/441362

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/one-week-of-sales-at-sothebys-totals-7523-million-300366240.html

SOURCE Sotheby's

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