What's Happening?
Sotheby's New York is set to auction a collection of Surrealist artworks, including Frida Kahlo's 'El Sueño (La cama),' which is estimated to sell for between $40 million and $60 million. This auction, part of the 'Exquisite Corpus' collection, will take place at Sotheby's new Madison Avenue headquarters. The collection features over 80 pieces from renowned artists such as Salvador Dalí, Max Ernst, and René Magritte, with a total estimated value of $70 to $105 million. Kahlo's piece, depicting her in a four-poster bed surrounded by symbolic imagery, is expected to set a new auction record for Latin American art.
Why It's Important?
The auction of Kahlo's 'El Sueño' highlights the growing recognition and value of Latin American art in the global market. This event could potentially set a new benchmark for the sale of artworks by female artists, particularly those from underrepresented regions. The auction also reflects the sustained interest in Surrealism, a movement that continues to captivate collectors and art enthusiasts. The sale's success could influence future auctions and the valuation of similar artworks, impacting collectors, museums, and the broader art market.
What's Next?
The auction is scheduled for November, and its outcome could have significant implications for the art market, particularly in terms of the valuation of Surrealist and Latin American art. Collectors and investors will be closely watching the sale, as it may set new records and trends. Additionally, the auction's success could encourage more exhibitions and sales of works by female and Latin American artists, further diversifying the art market.
