Female artists were the standout performers in an otherwise lackluster contemporary art evening sale at Sotheby’s, which raked in $84 million.
Sotheby’s modern and contemporary evening sale in London on Tuesday brought in nearly £62.5 million ($84 million), aligning with pre-sale estimates of £55–£74 million. The 48-lot auction achieved an 83% sell-through rate by lot, with four works withdrawn. Though the total represented a 19% drop from last year’s £77 million for 51 lots, the evening defied muted expectations in a market that has seen rival Christie’s withdraw its summer sales and a slowdown in recent New York auctions.
Notably, works by women artists accounted for 30% of the evening’s total despite representing only 13.5% of the lots. Highlights included Tamara de Lempicka’s La Belle Rafaëla (1927), which led the sale at £7.4 million, and Jenny Saville’s Juncture (1994), which matched Basquiat’s Untitled (Indian Head) at £5.4 million. Agnes Martin’s Untitled I (1982) also crossed the £1 million mark, while Marlow Moss’s White, Black, Blue, and Red (1944) achieved a record £609,600.
Sotheby’s executives expressed satisfaction with the results. “There was something on offer for a broad range of tastes, and obviously we saw women artists perform very well,” said Helena Newman, chairman of Europe and head of impressionist and modern art worldwide. She added that the strong outcome “justified our decision to keep” the summer auction, even as others pulled back.
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While the auction market remains cautious, private sales are quietly thriving. “There is always activity in the art market,” said Thomas Boyd-Bowman, head of evening sales. “Private sales under the surface tend to fill the gaps… and every category.”
In a market that’s been described as “sticky,” Sotheby’s showed resilience, delivering solid results and reinforcing its faith in the summer sale season.
