The room was packed for Sotheby’s evening sale of the estate of the self-made beauty industry mogul Sydell Miller on Monday night. Her mansion in Palm Beach, Fla., was famous for its modern art and opulent décor, like Lalanne tables, a boudoir with a red Magritte, and gilded mirrors. Bidding was deep and strong for many lots, showing hunger of fresh material (and smart estimates).
Total Sales After Fees: $215.9 million
Total Sales of Equivalent Sale Last Year: $406 million (the evening sale of Emily Fisher Landau)
Hammer Total: $189.5 million
Top Seller: Claude Monet, Nympheas (1914–17), $65.5 million
Lots on Offer: 25
Lots Withdrawn: 0
Lots Sold: 25
Lots Bought In: 0
Sell-through Rate: 100 percent
Sell-through Rate After Withdrawals: 100 percent
Presale Low Estimate: $170 million
Presale Low Estimate After Withdrawals: $170 million
Hammer Total vs. Presale Low Estimate: +$19.5 million
Hammer Total vs. Presale Low Estimate (revised after withdrawals): +$19.5 million
Lots Guaranteed: 7
Lots With House Guarantees: 7
Lots With Third-Party Guarantees: 7
Total Low Estimate of Withdrawn Lots: 0
Total Low Estimate of Guaranteed Lots: $98.2 million (58 percent of total presale low estimate)
Total Low Estimate of Third-Party Guaranteed Lots: $98.2 million (58 percent of total presale low estimate)
Quote of the Night: “It’s one of those collections that has something for everyone,” art advisor Abigail Asher said. “There’s a range of prices and periods, from wonderful quirky objects to mega stars. You saw the collector’s eye. People responded to that.”
Lasting Memory: A 17-minute bidding war for the Monet, which began at $40 million and initially proceeded in fits and starts. Estimated at $60 million, the work was guaranteed by the house and backed by an irrevocable bid, ensuring it would sell. Eventually three Sotheby’s staffers competed for the work. It ended up with a client of Jen Hua, deputy chairman of Sotheby’s Asia.
Next Sale Up: Christie’s 20th Century evening sale on November 19.