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Matisse Sells for Record $33.6 Million at Christie's in N.Y.

2007-11-07 10:30:06 Lindsay Pollock and Philip Borof

Henri Matisse's 1937 "'Odalisque, Harmonie Bleue,"starring a curvy young woman in green pantaloons, sold on 6th,Nov for a record $33.6 million at Christie's International in New York. Matisse's previous auction record of $21.7 million was set in June at Sotheby's in London. Tonight's buyer was an unidentified telephone bidder. The 91-lot Impressionist and Modern art sale is the first of four major evening auctions to be held at Christie's and Sotheby's over the next two weeks. The sales are the largest ever -- expected to top $2 billion -- and are a barometer of the strength of the art market. Sale projections outpace New York's May auction season, which rang up a record $1.4 billion. Pablo Picasso's 1968 "omme a la Pipe,"painted just five years before the artist's death, fetched $16.8 million tonight. That price includes a ``buyer's premium,'' or commission, of 25 percent of the hammer price up to $20,000, 20 percent of the price from $20,000 to $500,000 and 12 percent of the price above $500,000. New York dealer Larry Gagosian bought the Picasso, which had a presale high estimate of $16 million. The sale continued a spate of strong prices for the artist's later works. Seven of the first 42 lots in tonight's auction failed to sell.
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