Sotheby's Modern Art Sale Nets $186.4 Million; Giacometti Bust fails to impress, while a Frank Lloyd Wright lamp outshines
Sotheby's Modern Art Evening Sale in New York on May 13, 2025, garnered a total of $186.4 million, with 60 lots hammered and a sell-through rate of 83.3%. Among the auction's top lots was Pablo Picasso's Homme assis, which sold for $15.1 million, and Georgia O'Keeffe's Leaves of a Plant, which fetched $13 million.
However, the event was overshadowed by the failure of Alberto Giacometti's Grande tête mince to find a buyer. The sculpture, estimated to sell for over $70 million, did not secure a pre-sale guarantee and was believed to be the priciest work at the spring auctions. Initial bids started at $59 million, with several interested parties, then, after a prolonged pause, the work was passed, proving to be a rare public setback for a Giacometti of such caliber.
Priced north of $70 million, the untouched bronze bust of Giacometti's brother, Diego, is believed to be the only painted example in its edition, cast during the artist's lifetime. Despite its prestigious origins, the piece failed to captivate bidders on that evening, reflecting hesitation in the uppermost market tier.
Other notable sales included Paul Cezanne's Portrait de Madame Cézanne, which fetched $7.4 million, and a Frank Lloyd Wright double-pedestal lamp that sold for $7.5 million, nearing quadruple its 2002 auction price. The Wright lamp, designed in 1904 and one of only two of its kind, served as a modern art evening sale novelty, showcasing Sotheby's strategy of integrating design pieces with traditional paintings.
The evening's results demonstrated both the resilience of blue-chip artists' works, as well as the limits of over-ambitious expectations in a potentially cautious market. Peter Bentley Brandt, an art advisor, noted that "Christie's did a better job securing and placing its top lots, successfully getting them across the line." Despite the failed sale of Alberto Giacometti's Grande tête mince, Maria Brito, another art advisor, pointed out the sale's overall success in terms of value and the opportunity it brought for potential buyers.
- The modern art market continues to stir discussions, as seen in Sotheby's evening sale in May 2025, where a Pablo Picasso painting and a Georgia O'Keeffe artwork fetched significant prices.
- However, the event was marred by the failure of a priceless Alberto Giacometti sculpture, Grande tête mince, to find a buyer, signifying a rare public setback for such a renowned artist.
- The upcoming Sotheby's Modern Art auction features another Giacometti piece, an untouched bronze bust of his brother, Diego, estimated to be worth over $70 million, despite its failure to captivate bidders in the previous sale.
- Museums and collectors alike watch the movements of the art market with interest, as evidenced by the high bids for modern masterpieces like Paul Cezanne's portrait and a Frank Lloyd Wright lamp, each selling for millions.
- The general news surrounding the art world is a blend of entertainment and general-news value, with sales such as these reflecting the insatiable curiosity of the public towards modern art and its market trends.
