Record prices return to Sotheby's

NEW YORK (AFP) - – Several records were broken for artists at Sotheby's New York auction of impressionist and modern art, with 181 million dollars in sales, above the pre-auction estimate.

Successes included "Young Arab," by early 20th century Dutch artist Kees Van Dongen, selling for 13.8 million dollars, well over the 11.1 million dollar record for the artist's works.

French painter Andre Derain's "Barques au port de Collioure," from about 1905, went under the hammer for 14 million dollars, smashing the 6.1 million dollars record for the artist.

Although not setting a record, one of the biggest stars of the auction was "L'homme qui chavire," a sculpture by Alberto Giacometti estimated at eight to 12 million dollars and selling for 19.34 million dollars.

The Italian sculptor's record at auction is 27.4 million dollars.

Of 66 lots, 85 percent sold.

"It's a shot in the arm for the market. It's a vote of confidence," Simon Shaw, head of the impressionist department at Sotheby's, said.

On Tuesday, rival Christie's impressionist and modern art sale took in just under 66 million dollars, below the presale estimate of 69-97 million dollars, in a subdued night.

Notably there were no bids for a 1943 Picasso, "Tete de femme," which was estimated to sell for seven to 10 million dollars.

With buyers concentrating on less challenging works, Marc Porter, president of Christies Americas, said the results "demonstrated that classic impressionist paintings and sculptures across a range of prices continue to achieve strong results."

Art auction prices took a dive in 2008 as crisis on the world's stock markets and recession devastated wealthy collectors.