Our auction brought a total of $17,037,750 with strong prices achieved for a variety of Latin American abstract and constructivist artists, as well as Matta, Rufino Tamayo, Joaquín Torres-García, and Fernando Botero. The sale was 73% sold-by-lot, with an auction record set for Sergio Camargo when Untitled (Relief No. 21/52) sold for $2,165,000, well over the $400/600,000 estimate.
“This was a night for Latin American Abstraction,” said Axel Stein, Head of Latin American Art at Sotheby’s. “Sergio Camargo rightfully took his place at the top of tonight’s results, setting a new benchmark at auction. In addition, we saw strong prices for other nonfigurative artists such as Lygia Clark, Edgar Negret, Luis Tomasello, Gego, Jesús Rafael Soto, Alejandro Otero, and others, as collectors recognized the beauty of their abstract creations.”
Sotheby’s Latin American Fall auction on November 20 and 21 will offer an array of Modern masterworks by Matta, Joaquín Torres-García, Rufino Tamayo, Leonora Carrington and Armando Reverón as well as a fine selection of works by contemporary artists such as Sergio Camargo, Lygia Clark, Mira Schendel, Jesús Rafael Soto and Luis Tomasello among others . The auction will also include an exceptional group of Fernando Botero paintings, sculptures and drawings.