Sotheby’s Impressionist & Modern and Contemporary Art Sales series concluded, having achieved a remarkable total of £251,047,957 ($497,450,648) –the highest total for any series of Summer Sales ever staged by the company in Europe.

Robin Woodhead, Chairman Sotheby’s International, said: “Sotheby’s two weeks of sales demonstrated the enormous appeal of quality works in today’s market place, as bidders cast aside pre-sale estimates to pursue the artworks that they found desirable. Our total for sales of Impressionist & Modern and Contemporary Art this year in London and New York is up 22% on the first half of last year and our average sold lot value has increased to $762,961, from $643,757 established in our equivalent sales series in 2007. Sale on sale we are seeing that the art market has continuing strength, which is being bolstered through determined bidding by new and established collectors from all corners of the world.”

The total for sales of Impressionist & Modern and Contemporary Art this year in London and New York is up 22% on the first half of last year. Our Summer Sales average sold lot value has increased to $762,961, from $643,757 in June 2007. 52 lots sell for over £1 million / 102 sell for over $1 million. Seven lots sold for over £5 million / 20 lots for over $5 million. Two lots sell for over £10 million / seven lots for over $10 million. 15 new artist records were set (including many for works by leading artists such as Richard Prince, Bridget Riley, Anthony Gormley and Anish Kapoor.)