{"id":1461,"date":"2022-03-14T17:33:07","date_gmt":"2022-03-14T09:33:07","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=1461"},"modified":"2022-03-14T17:33:07","modified_gmt":"2022-03-14T09:33:07","slug":"magritte-masterpiece-sells-for-record-breaking-79-8-m-during-sothebys-sale","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/magritte-masterpiece-sells-for-record-breaking-79-8-m-during-sothebys-sale\/","title":{"rendered":"Magritte \u2018Masterpiece\u2019 Sells for Record-Breaking $79.8 M. During Sotheby\u2019s Sale"},"content":{"rendered":"

A painting by Ren\u00e9 Magritte<\/a>, a juggernaut within the modern art market, sold for \u00a359.4 million ($79.8 million) at Sotheby\u2019s on Wednesday, setting a new auction record for the Belgian Surrealist. That price is more than triple his previous record of $26.8 million, paid for the artist\u2019s\u00a0Le Principe du Plaisir\u00a0<\/em>(1937) at Sotheby\u2019s in 2018.<\/p>\n

Sold during an evening sale at the house\u2019s London location, three bidders competed for\u00a0L\u2019empire des lumi\u00e8res<\/a>\u00a0<\/em>(1961). Secured with an in-house guarantee, it was expected to fetch \u00a345 million ($60 million). With bidding starting at \u00a340 million ($53 million), the work hammered for a price of \u00a351.5 million ($68.9 million), going to buyer on the phone with Alex Branczik, Sotheby\u2019s chairman of modern and contemporary art in Asia. That buyer beat out two other determined ones on the phone with Katia Nounou Boueiz, Sotheby\u2019s head of United Arab Emirates, and Sam Valet, a senior Impressionist and modern art specialist based in London.<\/p>\n

Before putting down the gavel, Sotheby\u2019s<\/a> auctioneer Helena Newman urged bidders on in the last few minutes of the nearly-10-minute-long battle, saying, \u201cIt\u2019s not a masterpiece to let go.\u201d<\/p>\n

The painting depicts a streetscape that appears to be set during the day and night simultaneously. Its composition is one that the artist returned to several times throughout the 1950s and \u201960s.<\/p>\n

The work was sold from the holdings of Anne-Marie Crowet Gillon<\/a>, a French baroness and the daughter of one of Magritte\u2019s key patrons, the lawyer Pierre Crowet. Gillon, who met the artist at the age of 16, went on to pose for several of Magritte\u2019s works. It has been on loan at the Mus\u00e9e Magritte in Brussels since 2009.<\/p>\n

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Source: https:\/\/www.artnews.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"

A painting by Ren\u00e9 Magritte, a juggernaut within the modern art market, sold for \u00a359.4 million ($79.8 million) at Sotheby\u2019s on Wednesday, setting a new auction record for the Belgian Surrealist. That price is more than triple his previous record of $26.8 million, paid for the artist\u2019s\u00a0Le Principe du Plaisir\u00a0(1937) at Sotheby\u2019s in 2018. Sold […]<\/p>\n","protected":false},"author":2,"featured_media":1462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,7,4,3],"tags":[],"class_list":{"0":"post-1461","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-events","10":"category-gallery","11":"category-latest-news"},"yoast_head":"\nMagritte \u2018Masterpiece\u2019 Sells for Record-Breaking $79.8 M. 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