Perhaps it was the high hopes pinned on a Picasso picture from the much-sought-after year 1932 that galvanized the attendance. At the end of a bidding match that lasted five tense minutes, the stylized image of a young woman fallen asleep over the book lying open in her lap exceeded the experts’ most ambitious expectations. It brought £25.24 million, or about $40.71 million, 40 percent above the high estimate. Applause broke out in the room to the visible delight and relief of Mr. Wyndham, the chairman of Sotheby’s Europe who also happens to be one of the two or three best auctioneers wielding the gavel on the international scene.
PICASSO SOLD DOUBLE ESTIMATE!!!
(February 10, 2011)LONDON — Just for a few moments the boundless enthusiasm of yore seemed to have come back to the auction world as Henry Wyndham conducted Sotheby’s Tuesday evening sale of Impressionist and Modern art.
The brilliant score was by no means a foregone conclusion. The work is not in the large size that is most actively pursued. More importantly, it does not have the punch for which the often-jarring portraits of 1932 are noted. The gently curving black contours isolate blocks of contrasted colors that are paler than usual and harmonious rather than striking. The master must have been in a good mood, reflected in the kind of peaceful alacrity that emanates from the picture, spiced for good measure with a touch of light-hearted humor — the title of the picture, “La Lecture” (Reading), while borne out by the open book, is belied by the woman’s closed eyes.
The Picasso, which stood out in the sale, somehow seemed to carry it during the first 20 minutes or so. The opening lot Matisse’s 1935 drawing in pen and ink of a woman in the nude who lies on her back, daydreaming, was in the same mildly ironical mood as Picasso’s image. It too made more than the high estimate, bringing a large £735,650.
A marine painted by Lyonel Feininger in 1912 that came in third position soared to £3.17 million, two and a half times the most that professionals expected. “Side-Wheel Steamer at the Landing” is an unusual work by the U.S.-born artist of German stock, who was by then established in the land of his forefathers. The wooden landing, the hills rising beyond, the waves and the boat itself are all broken up into facets, reflecting Feininger’s assimilation of Cubist stylization, while the strongly contrasted shapes betray his awareness of the Expressionist movement that was flourishing in Germany. Add the puny human figures that give the picture an unexpected funny twist, not often associated with either Cubism or Expressionism.
A rather banal genre scene, “Beer Garden near the Havel under Trees” painted by Max Liebermann around 1920-22 followed. Done in a retardataire Impressionist manner, it fetched a generous £881,250. Immediately after, “Venise. La Salute. Vert” signed by Paul Signac in 1908 managed against the odds to realize £2.33 million. The view of the Venetian island with the church of Santa Maria della Salute is not much more than an exalted picture postcard in the Divisionist style that Signac and Paul Seurat had championed a quarter of a century earlier. While it sold within the estimated price bracket, the Signac could hardly have done better.
Coming after Picasso’s sensational “La Lecture,” another Picasso, this time of a nondescript character, “Compotier et verres” (Fruit bowl and glasses) dated 1943 found a taker at £802,850, a highly creditable performance for a work of such modest scope. By now, the auction seemed to be enjoying a period of grace, which extended to a still life by Giorgio Morandi. Reasonably good but not unforgettable, the Morandi realized £1.38 million.
Sadly, that was the end of it. As if bidders had suddenly awoken to the harsh realities of life, they began to pick and choose.
Works with the most famous signatures were rejected whenever estimates reflected decidedly unreasonable ambitions. Alberto Giacometti’s 1958 portrait of his younger brother Diego elicited no response from the room as Mr. Wyndham brought down his gavel after calling out in vain £2.7 million. It would have stood a sporting chance at half that level.
Picasso’s head of a man done in a curious blend of Expressionist realism and Cubist deconstruction of form fell unwanted at £780,000. The estimate was too high for a work on paper.
Two lots down, a beautiful riverside view of “Argenteuil, fin d’après-midi” (Argenteuil, late afternoon) painted by Monet in the romantically melancholic mood of the Barbizon School would have dropped dead if the auctioneer had not allowed it to sell on a £3 million bid, well under the low estimate set at £3.5 million.
The landscape is fine, but it looks earlier than the 1872 year hypothetically put forward by specialists. It probably predates 1870 and is certainly not Impressionist. The estimate was too high for an atypical work that does not conveniently slot into ready-made categories.
There were some rare exceptions to the rule according to which wild estimates are lethal to atypical works.
This was the case with Picasso’s “Portrait of Olga” of 1923, which is not in the “Neo-Classical” manner then practiced by the artist. The likeness of the woman combines the influence of 19th-century Realism with a penetrating psychological insight that points to the Catalan artist’s familiarity with great masters of past centuries such as Zurbarán. Atypical as it is, the portrait rose to £1.72 million. For a picture that is only 27-by-22 centimeters, or 105/8 by 85/8 inches, this is a very large price.
But then, this painting of timeless greatness is a late reminder that Picasso brought up the rear of the century-old tradition of European psychological portraiture, before turning to his iconoclastic pursuits. And seen from that angle, the “Portrait of Olga” was worth all the money you can afford to pay.
