At a jaw-dropping auction, the Gustav Klimt painting, 'Insel im Attersee,' fetched a staggering $53 million after an explosive bidding war.
Fifteen works from the Ostin collection were offered, including pieces by blue-chip figures like Jean-Michel Basquiat and Joan Mitchell. Fourteen of those works sold, generating a sum of $123 million and outpacing the $103 million estimated for the sale by specialists. Four lots in the Ostin sale, among them works by Mark Tansey, Mitchell, and Pablo Picasso, were backed with third-party guarantees or irrevocable bids.
Sotheby’s UK-based auctioneer Oliver Barker took to the podium on Tuesday night to lead the event from the house’s Manhattan headquarters. The sales were anchored by auction debuts for works by René Magritte from Ostin’s holdings, as well as new records for Vilhelm Hammershøi and Isamu Noguchi.
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