New records for Kandinsky....
£33 Million Kandinsky Breaks Record at Sotheby’s
01 Solid Impressionist and Modern sales at Sotheby’s London saw the auction record for Wassily Kandinsky’s work broken twice in one night.
Kandinsky’s Murnau – Landschaft mit grünem Haus (1909) sold for £21 million (with fees), setting a new record for the artist. It stood for all of six lots until Kandinsky’s Bild mit weissen Linien (1913) went for £33 million with fees. By the end of the night, the sale had brought in £127.9 million, falling squarely within its estimate of £110.6 million to £142.6 million. The sell-through rate of 73.9% was, however, less impressive, and a special sale of small works titled “Actual Size” didn’t meet its low estimate and notched only a 65% sell-through rate. The house’s day sale drew in £19.6 million on a sell-through rate of 73.8%, falling between the estimates of £17.6 million to £25.7 million. While last year’s sale boasted a slightly higher total of £20 million, it also featured a higher number of lots overall: 277 lots in 2016 to 210 lots this year. After announcing the cancellation of its June contemporary auctions in London earlier this year, Christie’s will hold its Modern and Impressionist sale next week.