John Singer Sargent Watercolor Shatters Records at $7.2M

UPDATE: A stunning watercolor by John Singer Sargent just sold for a jaw-dropping $7.2 million at Christie’s in New York City, marking a record-breaking moment for the artist’s works on paper. This sale, which occurred during the highly anticipated 20th Century Evening Sale on October 17, 2023, highlights the ongoing vitality of the art market, even amidst concerns of economic downturn.

The piece, titled “Gondolier’s Siesta” (1902–03), was the star of the evening, captivating bidders with its vibrant depiction of Venice’s iconic gondoliers. Auctioneer Adrien Meyer showcased his skill, navigating a dynamic bidding war that lasted just four minutes before the gavel came down. The sold price, including fees, set a new milestone for Sargent’s watercolors, affirming that collectors are still eager to invest in exceptional artwork.

As the auction unfolded, the atmosphere shifted dramatically when Lot 19 was announced. Initial estimates had placed the piece’s value at around $4 million, but the final sale price far exceeded expectations, accounting for just 1% of the auction’s total $690 million revenue. The winning bidder, art advisor Ray Waterhouse, expressed his enthusiasm, stating, “This was just perfect in every way.”

Sargent’s work, renowned for its exquisite detail and emotional depth, has seen a resurgence in interest. This year’s centenary of his birth is being celebrated with major exhibitions at institutions such as The Met and the Museé d’Orsay. Christie’s Head of American Art, Tylee Abbott, emphasized the uniqueness of this piece, noting its intricate balance of architecture and human figures, crafted in a notoriously challenging medium.

The significance of this auction extends beyond mere numbers; it represents a broader narrative within the art community. The sale of “Gondolier’s Siesta” provides a refreshing counterpoint to the prevailing sentiments of market uncertainty, showcasing that collectors remain committed to acquiring high-caliber works.

Waterhouse confirmed that the watercolor had never been publicly sold before, coming directly from the collection of patrons Carol and Terry Wall of the Montclair Art Museum. The piece had previously fetched a similar price in a private sale, showcasing its consistent value and desirability.

In addition to its financial implications, the painting also serves as a reminder of Sargent’s impact as a prominent American artist. “Sargent went into an eclipse shortly after his death,” noted art biographer Paul Fisher, “but today, he is officially having a moment.”

As art enthusiasts and collectors alike celebrate this record-breaking sale, all eyes are on upcoming auctions to see if this trend continues. The art market’s resilience is a testament to the enduring appeal of masterpieces, particularly those that evoke profound emotional connections and embody rich cultural narratives.

Stay tuned for further updates as the art world continues to evolve and reveal more stunning sales in the days to come.