NEW YORK—The Sotheby’s mid-season sale of “American Paintings, Drawings & Sculpture” on March 23 scored $4.6 million. Of 178 lots on offer, all but 10 found buyers. The auction was 94.4 percent sold by lot and 96.4 percent sold by value.
Jennifer Roth, senior vice president and specialist in charge of the sale, calls the results “outstanding” and “a clear indication of the strength of the American paintings market. We saw prices reach many multiples of their estimates, including the top lot.”
The top-selling lot was Francis Coates Jones’ Woman Arranging Flowers, which fetched $156,000, far exceeding the $20,000/30,000 estimate. It was followed by Paul Cornoyer’s Rainy Day, Columbus Circle, which took $144,000 (estimate: $25,000/35,000). Seven of the top ten paintings were bought by dealers, with private collectors submitting winning bids on the remaining three.
Among other strong prices: George William Sotter’s The Winding Road brought $114,000 (estimate: $25,000/35,000); and Emil Carlsen’s Summer Landscape (estimate: $20,000/30,000) and Arthur Meltzer’s The Meandering Creek (estimate: $10,000/15,000) each realized $108,000.
Notes Roth: “Private collectors and dealers alike competed for paintings in original, untouched condition. We also saw particular strength in the New Hope School paintings as evidenced by top prices achieved for Arthur Meltzer’s [painting] and Rae Sloan Bredin’s Under the Parasol, which sold for $90,000 (estimate: $20,000/25,000).”