A rare piece from René Magritte’s renowned “L’empire des lumières” series is set to hit the auction block at Christie’s New York this fall, with estimates suggesting it could sell for over $95 million. This potential sale would not only break the Surrealist artist’s previous auction record but also mark a significant triumph for Christie’s amid a period of softened sales across the industry.
Created in 1954, “L’empire des lumières” is one of 27 paintings where Magritte explores the interplay of light, depicting a sunlit sky above a shadowy street scene. In 2022, another work from this series fetched £59.4 million (approximately $79.7 million) at Sotheby’s in London, nearly tripling Magritte’s previous record.
The upcoming auction features this painting from the estate of Mica Ertegun, a notable interior designer and wife of Ahmet Ertegun, co-founder of Atlantic Records and an avid art collector. The sale will also include works by other prominent artists such as Joan Miró and David Hockney, along with a Polaroid of Ertegun taken by Andy Warhol.
Max Carter, Christie’s vice chairman of 20th and 21st century art, commented on the significance of Magritte’s work, stating, “An icon of Surrealism, the Ertegun Magritte is arguably the finest, most deftly rendered and hauntingly beautiful of the series. Like Mica’s eye, it is perfect.”
The dedicated evening sale of Ertegun’s collection is scheduled for November 19 in New York, accompanied by daytime auctions and online sales. A significant portion of the proceeds will benefit philanthropic initiatives, reflecting Ertegun’s support for various causes during her life, including the Graduate Scholarship Programme in the Humanities at Oxford University and Jazz at Lincoln Center.
Despite reporting a 22% year-on-year decline in total revenue from live and online auction sales in the first half of 2024, Christie’s has maintained healthy sell-through rates. The auction house also announced its acquisition of Gooding & Company, a collector car auctioneer, marking a return to the car market after a 17-year hiatus.
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