Christie’s auction in London witnessed a surge in the art market, amassing a remarkable £130.3m through a marathon double-header sale of 20th and 21st-century artworks along with Surrealist pieces. This substantial figure more than doubled the earnings of a rival auction the previous evening, showcasing the enduring appeal of art despite the prevailing global turmoil.

The event, spanning nearly three hours with 72 lots on offer, attracted a heightened sense of anticipation and active participation both on the phones and in the auction room. The buoyant atmosphere was notably influenced by the thriving interest in Surrealism, especially from American collectors, as evidenced by the robust prices achieved for renowned artists like René Magritte, Paul Delvaux, and Tamara de Lempicka.

René Magritte’s mysterious painting, “La reconnaissance infinie,” soared to an impressive £10.3m, reflecting the escalating demand for Surrealist masterpieces, a trend fueled by a growing number of American art enthusiasts showing keen interest in this once predominantly European art movement. The auction also saw a surge in prices for Surrealist works, exemplified by the sale of Max Ernst’s “Colorado de Méduse” for £3.1m, surpassing its initial estimate by a significant margin.

A highlight of the evening was the intense bidding wars over three captivating paintings by Paul Delvaux from the collection of a discreet Belgian hotelier, which fetched a total of £12.9m, far exceeding their conservative estimates. The standout piece, “La ville endormie,” a mesmerizing depiction of sleepwalking women against a surreal backdrop, commanded a hefty price of £6.2m, attracting multiple determined bidders vying for its acquisition.

While the main 20th and 21st-century sale at Christie’s saw consistent bidding, the excitement peaked during the auction of iconic works by Francis Bacon, David Hockney, Amedeo Modigliani, and Tamara de Lempicka. These coveted pieces, guaranteed to sell for substantial amounts, witnessed brisk bidding activity, with Bacon’s “Portrait of a Man with Glasses III” and Lempicka’s “Portrait du Docteur Boucard” each fetching £6.6m.

Despite the success of the auction, the total revenue of £130.3m marked a 34% decline from the previous year, indicating a degree of caution prevailing in the international art market. Observers attribute this to the saturation of major auction seasons across global art hubs, limiting significant growth opportunities, and raising questions about the post-Brexit art market dynamics in London.

In conclusion, Christie’s marathon auction not only showcased the enduring allure of art but also underscored the evolving preferences of collectors, particularly the rising fascination with Surrealism among American connoisseurs. The event served as a testament to the resilience and dynamism of the art market amidst broader geopolitical uncertainties, offering a glimpse into the evolving landscape of contemporary art acquisition and appreciation.