$40.4 Million Klimt, Museum's Monet Boost Sotheby's Auction

  • "Litzlberg am Attersee" (1915) by Gustav Klimt sold for $40.4 million at Sotheby's on Nov.  2, 2011.

    "Litzlberg am Attersee" (1915) by Gustav Klimt sold for $40.4 million at Sotheby's on Nov. 2, 2011.

    Sotheby's

A Gustav Klimt landscape painting that was stolen by the Nazis from its Jewish owner brought $40.4 million at Sotheby’s near-$200 million Impressionist and modern art sale in New York on Wednesday evening.

The Museum of Modern Art in Salzburg, Austria, recently returned the work to retired Montreal camera shop owner Georges Jorisch, the grandnephew of Amalie Redlich, an Austrian Jewish woman who owned “Litzlberg am Attersee” (1915) until the Gestapo sold her art collection. She disappeared after being deported to Poland.

The buyer was Zurich dealer David Lachenmann who was bidding on behalf of a client, according to Bloomberg.

The sale totaled $199.8 million, in the middle of estimates, with just 13 of 70 lots failing to sell, a performance far better than competitor Christie's sale on Tuesday which brought $140.7 million, with 31 of 82 works going unsold.

Selective buyers responded to fresh material and reasonable estimates.

Among the notable results was Tamara de Lempicka's sensuous portrait "La Reve (Rafaela Sur Fond Vert,' painted in 1927, which reached $8.4 million, over its high estimate of $7 million.

Seven out of 8 offered works by Max Ernst sold, including his exurberant World War II-period painting "Convolvulvus! Convolvulvs!" which brought $3.4 million. The artist achieved a record price the night before at Christie's for "The Stolen Mirror," which quadrupled its low estimate to bring $16.3 million.

A Claude Monet, "Antibes, Le Fort," of 1888, consigned by the Museum of Fine Arts, Boston, for its acquistion fund, fetched $9.2 million, well above its $5-7 million estimate.

From a private collection, an Edgar Degas bronze horse sculpture earned $2.2 million, over a $1.2 million high estimate.

Gustave Caillebotte's "Le Pont D'Argenteuil et la Seine," a vibrant river scene by the Impressionist, doubled its low estimate to bring $18 million.

A suite of Matisse bronzes "Les Nus de Dos (The Backs)", estimated at $20 million to $30 million, were sold privately prior to the auction by consignor The Burnett Foundation. Sotheby's brokered the sale for an unspecified amount.

(Prices realized include commissions.)

More News Feed Headlines

Jimson Weed (White Flower No.  1), 1932, by Georgia O'Keeffe

Georgia O'Keeffe Museum to Sell Three Works from Collection

  • September 12, 2014 12:00

The Georgia O’Keeffe Museum has announced that it is selling three works by the artist, including one of her iconic flower paintings...

Read More

Marguerite and the late Robert Hoffman shown with the red Rothko.

Judge Dismisses Dallas Art Collector's Suit Over Multi-Million Dollar Rothko

  • September 11, 2014 14:54

A Dallas judge last week dismissed collector Marguerite Hoffman's suit against financier David Martinez for breach of contract over the quick flip of a Mark Rothko painting.

Read More

Sol LeWitt, detail from Drawing Series—Composite, Part I–IV, #1–24, B, 1969.  ©Sol LeWitt.

Dia Art Foundation Names New Director

  • September 10, 2014 22:29

The Dia Art Foundation has chosen a new director as the 40-year-old non-profit institution struggles with issues of financing and a needed expansion of space in Manhattan.

Read More

David H.  Koch Plaza

Protesters Disrupt Koch Plaza Dedication at Met Museum

  • September 10, 2014 22:22

A vast new space on Fifth Avenue at the Met Museum's doorstep was dedicated on Tuesday night with ...

Read More

Related Press Releases

Related Events from ArtfixDaily Calendar

ArtfixDaily Artwire