An auction comprised of artworks and treasures amassed by the late designer Yves Saint Laurent along with his partner has already grossed more than euro300 million ($382 million) and smashed numerous world records, although the public sale has not concluded yet.
The outstanding, three-day auction held at Christie’s in Paris is scheduled to finish on Wednesday night during a finale that includes a couple of disputed bronze fountainheads taken from a palace outside Beijing in 1860.
As the Chinese government is claiming the objects, it has requested Christie’s to stop their sale. However, Christie’s and Saint Laurent’s partner, Pierre Berge, are adamant with regard to the fact that the auction should progress as initially planned.
In spite of the fact that the controversy surrounding the items, as well as the recession threatened to outshine the extravagant auction, purchasers appeared to be little discouraged from buying the objects.
The first two days of the auction brought in euro307 million ($391.8 million), already surpassing Christie’s expectations, which estimated sales of euro200 million to euro300 million for the entire event.
This represents refreshing news for a world art market concerned that the economic crisis was decreasing art investments, as well as for Christie’s, which was expecting the auction to boost lethargic sales.
Throughout the auction’s second round, which took place on Tuesday night, 19th century paintings and 20th century decorative artworks netted a total of euro101 million ($128.9 million), taking the total so far to an impressive euro307 million ($391 million), consistent with figures issued by Christie’s.
The auction house said that an armchair embroidered with snakes and conceived by Eileen Gray set a record for a piece of 20th century furniture, selling et euro21.9 million ($27.95 million).
As snakes were an object of fascination for Yves Saint Laurent, a vase with a serpent designed by Jean Dunand was sold for euro270,000 ($344,600), which represents a price nine times higher that the most audacious pre-auction estimate.
Another record was set by an Ingres painting, “Portrait de la comtess de la Rue,” Portrait of the Countess of La Rue, which was sold for euro2.081 million ($2.66 million), a record for the French neoclassical painter, according to Christie’s.
Yves Saint Laurent’s extensive collection, arranged over half a century, was exposed in New York and London before arriving in Paris. The renowned designer passed away last year at the age of 71. A significant portion of the earnings is due to go to a foundation that endorses AIDS research.
