More Latin Heat

For over 20 years Leon Tovar Gallery has been actively participating in the international art market. In recent years its focus has been Latin American modern and contemporary art. In this field it has worked closely with museums, auction houses, collectors, galleries and dealers to further the spread of Latin American art. Leon Tovar Gallery’s main goal is to open American and European private collections to Latin American art, therefore promoting the dissemination of Latin American art and artists in the international market.


May 29th, 2008
Sotheby’s Latin American Evening Sale does $21 million–well above the high estimate.

Tonight’s evening sale of Latin American Art achieved a total of $21,033,500 (est. $13,945,000/17,945,000), the highest total ever for an evening sale of Latin American Art at Sotheby’s. 91.2 percent of lots met or exceeded their high estimates, eleven lots sold for over $500,000 and two sold for over $1 million. Tonight’s sale was 90 percent sold by value and 88.3 percent sold by lot. The sale will continue tomorrow with a session at 10am.

Artist records were set for eight artists including Emilio Pettoruti, Francisco Matto, Joaquín Torres-García, Alejandro Otero, Carlos Cruz-Diez, Julio Le Parc, Martha Boto, and Benito Quinquela Martín. Additionally, records for a medium by an artist were set for Rodolfo Morales, Matta, Leonora Carrington and Emilio Pettoruti.
Top Ten

Lot Price (USD) Estimate (USD) Buyer
13 $3,625,000 (£1,840,195) $2,000,000 - 2,200,000 Anonymous
Rufino Tamayo, El Comedor de Sandias, 1949

21 $1,721,000 (£873,648) $1,100,000 - 1,400,000 Cavaliero Fine Arts
Joaquin Torres-Garcia, Constructif Mysterieux, 1932
RECORD FOR THE ARTIST AT AUCTION

10 $965,000 (£489,873) $700,000 - 900,000 Anonymous
Rufino Tamayo, El Constructor, 1948

28 $713,000 (£361,947) $600,000 - 800,000 South American
Wifredo Lam, Personnage, 1963-1964

22 $685,000 (£347,733) $325,000 - 375,000 Anonymous
Rufino Tamayo, Relojes, 1929

8 $629,000 (£319,306) $300,000 - 400,000 Mexican
Emilio Pettoruti, La Senorita del Sombrero Verde, 1919

RECORD FOR THE ARTIST AT AUCTION

29 $601,000 (£305,092) $150,000 - 200,000 South American
Matta, Ardeur de l’Eau, 1958

62 $553,000 (£280,725) $180,000 - 220,000 Mexican
Jose Maria Velasco, El Valle de Mexico, 1882

59 $553,000 (£280,725) $300,000 - 350,000 American
Rufino Tamayo, Retrato Matrimonial, 1959

7 $517,000 (£262,450) $250,000 - 350,000 American
Alfredo Ramos Martinez, La Nina de Las Flores Blancas,