Sotheby’s has secured a major collection of Latin American artworks that will hit the auction block during the week of June 29 in New York.
“The Vanguard Spirit: Modern and Surrealist Masterworks from an Important Estate” comprises 35 lots that will be offered across Sotheby’s Contemporary and Impressionist sales.
In total, these works are estimated to bring in over $22 million. Another selection of 200 works from the private estate will be auctioned across various collecting categories this fall. Fernando Botero´s 1971 portrait “The President”, featuring the artist’s signature political critique, which carries an estimate of $800,000–$1.2 million and will be offered in the contemporary art day sale.
The sale marks a rising demand for modern and contemporary Latin American artists as well as works by female modernists and Surrealists who were not part of the European vanguard that has long dominated the 20th-century art auctions. Sotheby’s first introduced works by preeminent Latin American artists to its Modern and Contemporary sales in 2017.