Autumn Storm: $1 Billion in Art Set to Rock New York City Auction Houses This Week!

This week, the art world will converge on New York City for a season of high-stakes auctions at Christie’s and Sotheby’s. The sales, which are set to take place from November 15-17, promise to bring a much-needed injection of energy to the auction market. With estimates totaling over $1 billion, collectors and investors will be watching closely to see if the sales can live up to the hype.

Leading the charge is Christie’s, which is set to offer a rare René Magritte painting titled The Present. Estimated to fetch between $60-80 million, the surrealist masterpiece is one of only a handful of works by the artist to come to market in recent years. Also up for grabs is Claude Monet’s Waterloo Bridge, a beautiful example of the artist’s impressionist work. The painting is expected to realize between $55-70 million.

Sotheby’s, meanwhile, will be offering a diverse range of works, including Large Trademark with an Image of Picasso, a seminal piece by Ed Ruscha. Estimated to fetch between $18-25 million, the work is a classic example of the artist’s wry wit and discerning eye. Rounding out the sales will be Keith Haring’s Crack is Wack, a vibrant and colorful mural that is expected to bring in between $5-7 million.

But perhaps the most talked-about work on offer this week is Maurizio Cattelan’s infamous banana. Yes, you heard that right - a banana. The Italian artist’s Comedian made headlines in 2019 when it was sold at Art Basel Miami Beach for a cool $120,000. Now, the piece is set to come to market once again, this time with an estimate of $150,000-$200,000.

So, will this week’s sales be enough to shake up the auction market? Only time will tell. One thing is certain, however: the eyes of the art world will be firmly fixed on New York City as collectors and investors clamor to get in on the action.