Rare René Magritte Painting Expected to Fetch Over $95 Million at Christie's Auction
ICARO Media Group
The masterpiece, created by the Surrealist artist in 1954, is a part of a collection of 27 paintings where Magritte skillfully juxtaposed a sunlit sky with a darkened street scene, showcasing his fascination with light and shadow.
In an exciting turn of events, the painting, formerly owned by the late Mica Ertegun, an esteemed interior designer and art collector, is set to surpass Magritte's previous auction record. Mica Ertegun, who was married to Ahmet Ertegun, a co-founder of Atlantic Records, had a profound appreciation for art and aesthetics. Among the remarkable pieces in her collection are works by notable artists like Joan Miró, David Hockney, and even a captivating Polaroid photo of Ertegun captured by Andy Warhol.
According to Max Carter, Christie's vice chairman of 20th and 21st-century art, the Magritte painting best represents Mica Ertegun's artistic philosophy with its delicate balance and refined elegance. Described as an iconic piece of Surrealist art, the 'L'empire des lumières' painting exemplifies exquisite craftsmanship and haunting beauty, reflecting the discerning eye of its former owner. Christie's will be hosting an exclusive evening sale of the Ertegun collection on November 19 in New York, accompanied by daytime auctions and online sales to follow.
In an altruistic gesture, a substantial portion of the proceeds from the auction will be allocated towards philanthropic endeavors, in line with Mica Ertegun's commitment to supporting various charitable causes during her lifetime. Christie's, despite experiencing a drop in total revenue for the first half of 2024 compared to the previous year, continues to maintain favorable sell-through rates, indicating a robust market for art auctions. Notably, the auction house recently announced the acquisition of Gooding & Company, a prominent collector car auctioneer, marking its return to the car market after 17 years.