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This year, Sotheby’s presents a smaller offering than at last year impressionist and modern art evening sale with a total estimated valuation(*) of $200 million versus $275 million last year.
This is explained partly by a smaller number of works offered (62 artworks versus 69 last year) and partly by the fact that this year's auction only counts 2 artworks with a Low Estimate above $10 million versus 5 artworks last year.
The work with the highest estimate ($15 to $20 million) is "Les Voiles Rouges" by Andre Derain. This is much lower than last year’s top estimate of $30 to $40 million for a "Nympheas" painting by Claude Monet.
The star of the evening is Picasso, with 8 artworks offered for sale with LE ranging from $0.5 million to $8 million.
Remarkably this May only one work is covered by a guarantee versus 14 works last year at the same auction.
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