News | January 31, 2010

Sotheby’s Rakes in $53.4 Million for Old Master Paintings and Sculpture Auction

News | January 31, 2010

By Jillian Lobato

For their Important Old Master Paintings and Sculpture auction, Sotheby’s reached the high end of its presale estimate. Held this past Thursday, the sale expected to rake in between $38 million and $55 million. The final result was $53.4 million. The highest seller was the “Jupiter and Antiope,” a 1612 mythological scene by Hendrick Goltzius, which picked up $6.7 million. The previous sale for this artist had been at $1.5 million in 1996 when the art market was recovering.

Rembrandt’s “Portrait of a Young Woman with a Black Hat” was also estimated to gain anywhere from $8 million to $12 million, but the painting never reached these numbers, and was therefore withdrawn by the seller who had picked up the piece of $9 million in 2007.

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