BERLIN—At Ketterer’s modern and contemporary art auction in Munich on Dec. 10, bidding for Max Pechstein’s double-sided canvas, painted in 1910, started at a relatively modest €600,000 ($800,000). Dubbed a Pechstein masterpiece by experts, it shows two Expressionist images: Weib mit Inder auf Teppich (Woman with Indian on Carpet) on one side, and Früchte II (Fruits II) on the other side.
With an estimate of €800,000/1.2 million, spirited bidding drove the price to a record €3.5 million ($4.7 million), well over the €2.3 million mark set in February 2008 at Sotheby’s London for Zirkus mit Dromedaren. The painting was also the most expensive sold at an auction in Germany this year.
According to auction house representatives, the piece was bought by “a collector in a German speaking country.”
Overall, the sale saw a total of €16.6 million ($22.25 million), up €3.1 million from the comparable sale last year.