Sothebys : Picasso Portrait Leads Sotheby's $8.1 Million Prints Auction in NY

Microsoft Word - Results - Sotheby's Prints April 2016

New York | Shannon Demers | Shannon.Demers@Sothebys.com| +1 212 606 7176

PICASSO PORTRAIT LEADS SOTHEBY'S

$8.1 MILLION PRINTS SALE IN NEW YORK

Portrait de jeune fille, d'après Cranach le jeune Soars to $694,000

- New Record for the Image at Auction -

NEW YORK, 21 April 2016 - Sotheby's spring auction of Prints & Multiples concluded today in New York, totaling $8.1 million - nearing the high estimate of $8.5 million, and with 85.9% of lots sold. Top prices were commanded by bold Pop artists like Andy Warhol, Roy Lichtenstein and Jasper Johns, as well as a range of subjects by Pablo Picasso.

The evening session on 20 April was led by Picasso's Portrait de jeune fille, d'après Cranach le jeune (B. 859; BA. 1053), a linoleum cut printed in colors from 1958, which sold above its high

estimate for $694,000 - a record for the image at auction (estimate $400/600,000). Further highlights of the sale included Jean-Michel Basquiat's Untitled: Four Prints, which achieved

$298,000 (est. $100/150,000); Marcel Duchamp's L.H.O.O.Q. Shaved (Schwarz 615), which set a new record for the image at auction when it sold for $100,000 (estimate $30/50,000); and Moonwalk (F. & S. II.405) by Andy Warhol, which more than doubled its high estimate, selling for

$262,000 and also setting a new auction record for the image (estimate $80/100,000).

Mary Bartow, Head of Sotheby's Prints Department in New York, said: "We were thrilled with the results of this season's sale, which demonstrated the continuing interest by both emerging and established collectors in the Prints and Multiples category. While there was competitive, international bidding for works across genres spanning the late 19th Century to today, works by Picasso and Pop Art examples from masters such as Warhol and Lichtenstein performed particularly well, selling for multiples of their estimates and achieving new benchmark prices."

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Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in eight different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids in real-time from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Contemporary Art department, as well as Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 90 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).

*Estimates do not include buyer's premium and prices achieved include the hammer price plus buyer's premium.

Images are available upon request

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