Advantageous Auctions New York: Sotheby's Spring Latin American Art Sale
Sotheby’s spring Latin American art sale concluded this afternoon; the overall total for both sessions was $16,777,050 with 69% of the lots sold and a sold by value rate of 72%. There were seven new artist records, most significantly for Wifredo Lam’s Sur La Traces (Transformation), which sold for $1,426,500 (est. $1.2/1.8 million).
The highlight of the sale was a group of ten Masterworks from a Private Collection, Aspen, which was 100% sold and totaled $4,256,250 (est. $3.2/4.5 million). As well as Sur La Traces (Transformation) the collection included major works by Matta, Leonora Carrington and Rodolfo Morales that were enthusiastically received. From a different consignor Diego Rivera’s Portrait of Gladys March, which came with a remarkable archive of Rivera material, inspired competition, selling to North American Private Collector for $662,500, more than double the high estimate of $275,000.
