Sotheby's Impressionist/Modern Sale: Ready for Prime Time

"It's a new world," said Tobias Meyer from the auction podium.

...Record, that is---for Lyonel Feininger, whose "Jesuits III," the cover lot (above), sold for an auction record of $23.28 million. The hammer price of $20.75 million was more than twice the $9 million high estimate. The work was sold with a guarantee, which means that the auction house gets a big percentage of the excess over the amount promised to the consignor. No wonder David Norman, the chairman of the Impressionist/Modern department, had such a big smile on his face, which was broadcast to an international audience via Sotheby's live web feed.

When the auction was through, the sound went dead, but the camera stayed live for a few more minutes, allowing the world to see the International Herald Tribune's veteran art-market scribe, Souren Melikian, in lengthy, animated conversation with Diana Philips, Sotheby's director of press and corporate affairs. (At least I'm pretty sure it was Souren; he never fully faced the camera.) During the auction, I really wanted to know why Bill Ruprecht, president and CEO of Sotheby's, came up to the front to whisper at length to Norman, who in turn whispered at length to senior vice president Emmanuel Di-Donna. We'll never know.

Oh, you wanted to hear more about the auction results?

An auction record for a Cézanne on paper was set when his "Nature Morte au Melon Vert" went for $25.52 million ($22.75 million hammer price, against an estimate of $14-18 million)---the sale's top lot, also carrying a guarantee.

Top flop: Modigliani's "Jeune Fille Assise," which was estimated at $12-15 million but failed to sell. This, too, was a guaranteed work. Win some, lose some.

The sale totaled $278.55 million, including buyers premium. Hammer total was $246.75 million, against an estimate of $218.7-295.8 million---a healthy result. Six of the 61 works went unsold.

What I really want them to do next time is webcast the post-sale press conference, with instant-messaging for questions from lazy stay-at-homes like me!