With Sotheby’s decision to fold contemporary Latin American art into its core contemporary sales and Christie’s spotlight on Cuban art, the auction market is catching up with museums and galleries.
With exceptional works and the largest number of lots by Cuban artists, Christie’s continued to position itself as a leader in modern and contemporary Cuban art.
As predicted, it was a hot week for Cuban art, with record-breaking figures achieved by several artists in the Latin American sales. Much of the action focused on “Cuba Moderna: Masterworks from a Private Collection,” the sale-within-a-sale in the Christie’s auction, but there were surprises at Phillips and Christie's too.
With this month’s modern and contemporary sales reportedly down 45 percent over last May’s figures, expectations for the week’s Latin American sales were moderate at best. But works by Cuban artists turned in solid results at all three auction houses, with some notable breakthroughs.