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Matisse at Sotheby's may go for $30 million

Wednesday, April 02, 2014 - 01:35

Apr. 2 - Sotheby's previews hard-to-come-by paintings by famous artists including Matisse, Picasso and Monet in Hong Kong ahead of an auction in New York. Jeanne Yurman reports.

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Art lovers with deep pockets will have a chance to bid on rare artwork at Sotheby's Impressionist and Modern Art sale in New York next month. One of the highlights...this restful 1924 painting by Henri Matisse, 'La Seance Du Matin'. It could fetch as much as $30 million U.S. dollars. Sotheby's previewed the auction items in Hong Kong given the strong demand by Chinese art buyers, who now represent a fifth of all bidders.says David C. Norman, Sotheby's Vice Chairman of North and South America. Once cautious, they're shy no more. SOUNDBITE: David C. Norman, Sotheby's North and South America vice chairman, saying (English): "It used to be a new buyer would enter in the low six figure range, start to buy the secondary work as their confidence built and their knowledge. But particularly the Chinese buyers are coming right in at the top." Another star at the exhibit: a Pablo Picasso called 'Le Sauvetage', which shows a woman being rescued amid a seemingly joyful beach scene. It mirrors the real life of one of the artist's mistresses who had nearly drowned. Its cost? As much as $18 million U.S. dollars. Such price tags reflect a shrinking pool of art for sale. SOUNDBITE: David C. Norman, Sotheby's North and South America vice chairman, saying (English): "It is an inelastic supply so to speak. These works only become rarer and rarer to market as more enter museum collections or stay within private collections for longer." But for fans of Monet, 'Sur la falaise a Pourville' is relative bargain, expected to sell for only $9 million U.S. dollars.

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Matisse at Sotheby's may go for $30 million

Wednesday, April 02, 2014 - 01:35