World records broken at London art sale

Galway Fisherfolk by Augustus John from the Elizabeth Taylor art collection made £5,625 at Christie’s in London on Wednesday.

SALES of Impressionist, Modern and Surreal art brought in £134,999,400 at Christie’s on Tuesday. There were world record prices for the English sculptor Henry Moore and Spanish artist Joan Miro, three lots sold for over £10 million and 28 for more than £1m.

Henry Moore’s Reclining Figure, Festival made £19,081,250. A painting poem by Miro made £16,841,250. The most valuable of Elizabeth Taylor’s 38 artworks on sale this month made £10.1m.

Vincent van Gogh’s Vue de l’Asile de la Chapelle de Saint-Remy, which had been estimated at £5m-£7m, had been subject to a restitution claim by the heirs of a German Jewish art collector. The claim was not upheld by US Supreme Court. Henry Moore’s Reclining Figure, Festival made £19,081,250 and a painting poem by Miro made £16,841,250.

It is reckoned that as much as £562m worth of art may change hands in London this fortnight. Next week, contemporary and modern works will be offered. An artist’s resale royalty charge has applied since January 1 to living European artists and all those who have died in the past 70 years.

It is applied as a percentage of the hammer prices on a sliding scale from 4% on prices between €1,000 and €50,000 to 0.25% on prices over €2 million, capped at a maximum of €12,500.

Bonhams Impressionist and modern art auction brought in £2,657,700 with Picasso and Renoir among the top lots.