The top lots at Sotheby's Nov. 4 Impressionist and Modern evening sale

Pablo Picasso Alberto Giacometti Camille Pissarro Modigliani Pompidou Plans a Roving Museum Bilbao, the Sequel? Season Opens Softly at Christie’s The Purveyor of Modern Life

Send a letter to the Editor

Save to Del.icio.us Digg this

Of the eight Picassos offered during the evening, Femme au chapeau vert from 1947 shot past its high estimate of $6 million, thanks to a quirky telephone bidder who played a kind of cat-and-mouse game, jumping bids at $400,000 increments when it was only necessary to bid $100,000 higher.

The bids were taken by Mandarin-speaking private client specialist Xing Li, who bought another three works for the client with the paddle number L0057, including another Picasso, Claude a deux ans from 1949, one of the two so-called ‘irrevocable bid’ properties. It made $6,642,500 on estimates of $5–7 million.

Opinions seemed crystal clear as bidders and viewers exited the salesroom, trying to catch up with the World Series or late dinner reservations.

“It looks like the rich have fully recovered,” said seasoned private New York dealer Paul Herring.

Next week's Post-War and Contemporary auctions will test whether he is right.