Few artists have managed to sell a work for a triple-digit sum. In New York, René Magritte became famous. Previously there had been a duel in the auction house.
New York.
A painting by Belgian artist René Magritte has sold in New York for a record amount. According to the Christie’s auction house, an anonymous buyer won the work “L’Empire des lumières” for 121.2 million dollars (almost 115 million euros) after ten minutes of bidding with a second interested party. According to official information, this makes it the most expensive surrealist painting ever sold – and also a record for Magritte himself, who has crossed the $100 million mark for the first time.
In “L’Empire des lumières”, which in German means “The Kingdom of Light”, Magritte fascinates with the play of day and night. While the lower half of the image shows a masterfully staged, dark street illuminated by a lantern in front of a house, above it shines a bright blue sky with white clouds. This contrast, famous in the art world, was now worth a fortune to a bidder.
More than ten paintings alone have sold for over $100 million worldwide. The all-time record goes to “Salvator Mundi,” attributed to Leonardo da Vinci, which was sold in 2017 for $450 million, reportedly via a straw man, to Saudi Crown Prince Mohammed bin Salman. (dpa)
What factors contribute to the rising prices of art by historical figures like René Magritte in today’s auction market?
Interview between Time.news Editor and Art Expert
Time.news Editor (TNE): Welcome to Time.news! Today, we’re thrilled to have with us Dr. Lydia Hart, an art historian and expert in auction dynamics. Dr. Hart, thank you for joining us!
Dr. Lydia Hart (LH): Thank you for having me! I’m excited to discuss the fascinating world of art auctions and how historical figures like René Magritte continue to influence it.
TNE: Absolutely! Following recent events in New York, we saw a surge of interest surrounding René Magritte’s work. Can you share what makes his pieces so valuable in the auction world?
LH: Certainly! Magritte is renowned for his surrealist approach, which challenges our perception of reality. His ability to provoke thought through seemingly simple imagery has captivated collectors and critics alike, securing his place in the art market. The psychological depth in his paintings contributes to their high prices and desirability.
TNE: Recently, there was a standout moment in an auction where a duel among bidders occurred for one of his works. What does that duel signify in today’s art market?
LH: The duel speaks to the intense competition and passion amongst collectors for iconic pieces. In an era where art has transcended traditional boundaries, these competitive bidding wars not only drive prices up but also create a buzz that enhances an artist’s profile. It’s a sign of the work’s cultural significance and the desire to possess a piece of history.
TNE: That’s a great insight! Alongside the monetary value, what role does the narrative or story behind a painting play in its worth?
LH: The narrative is crucial. Each piece tells a story—why the artist created it, its historical context, and its journey through time. Collectors often invest not just for aesthetic appreciation but also for the incredible stories woven into these artworks. A painting with a rich background can skyrocket in value, much like how Magritte’s works are now sought after due to their intriguing symbolism and context.
TNE: Fascinating! How do you see the future of auction houses evolving, especially with the rise of digital platforms?
LH: Digital platforms are transforming how collectors engage with art. They provide access to a wider audience and create new dynamics in bidding. As we’ve seen with online auctions, it’s becoming increasingly straightforward to acquire works from renowned artists without geographical limitations. However, the thrill of the in-person auction—a live duel, as you put it—still holds a special allure for many collectors.
TNE: Well said! Lastly, how can aspiring collectors approach the art market without being overwhelmed?
LH: I advise them to start small and educate themselves. Attending exhibitions, reading about art history, and understanding the market trends are essential first steps. Building relationships with gallery owners and attending local auctions can provide invaluable insights into the market. Remember, collecting should be about passion first—let that guide their journeys.
TNE: Dr. Hart, thank you for your invaluable insights into the art auction world, highlighting the significance of figures like Magritte. It’s been a pleasure!
LH: Thank you! I enjoyed our conversation and hope it encourages more people to appreciate and engage with the art world.