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Friday, June 7, 2013

Old Master Paintings Exceed Expectations at Sotheby's New York

Yesterday's sale of Old Master Paintings in New York exceeded expectations, bringing a total of $9,270,440, more than $2 million above the high estimate (est. $4.9/7.22 million). American collections performed particularly well with five of the top lots coming from a West Coast Estate, led by Spring, a previously unpublished picture by Pieter Brueghel the Younger,which more than doubled its high estimate, fetching $2,285,000 (est. $700/900,000). Allegories of the seasons, a group of four paintings by Sebastiaen Vrancx, also exceeded its pre-sale estimates, bringing $875,000 (est. $300/500,000), as did a rare composition by Pieter Brueghel the Younger, The Whitsun Bride, which sold for $845,000 (est. $400/600,000).

Christopher Apostle, Senior Vice President, Head of Department, Old Master Paintings, noted: “The results from today’s successful sale affirm that collectors respond to fresh property, quality and fair estimates in a well-curated sale. Early works and pictures from great private collections remain in demand, with each of the 17 lots from a West Coast Estate selling, fetching a total of $5.1 million, almost double the high estimate of $2.6 million. We were pleased with the global participation from Asia, Russia, the United States and Latin America.”
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