Sotheby’s evening auction of Pauline Karpidas’s London collection achieved £73 million ($100 million) last Wednesday night, far above its pre-sale estimate of £39.1–55 million. All 55 lots sold, marking a 'white glove' result and the highest total ever for a designated auction in London.
Pauline Karpidas, who was married to the late Greek shipping magnate Constantinos Karpidas, began collecting in the 1970s with the encouragement of Greek gallerist Alexander Iolas. Over five decades she assembled an eclectic but focused collection spanning Surrealist paintings, postwar and contemporary art, and unique design. She formed close ties with artists including Andy Warhol, Les Lalanne, and Jeff Koons, commissioning works directly for her London home, where art and design were integrated in daily life. Two years ago, Sotheby’s sold works from her Hydra residence for $37.6 million; Wednesday’s sale marked the larger half of her collection.
The sale was led by René Magritte’s La Statue volante (1961), which realised £10.1 million ($13.8 million), within estimate. Eleven works by the artist were offered in total, with smaller pieces far exceeding expectations. His head sculpture Tête sold for £914,400 ($1.2 million), setting an auction record for a plaster sculpture by Magritte, while La Race blanche (gouache) reached £1.8 million ($2.5 million), having last sold at auction in 1985 for £41,000.
See also: New Record for Magritte and Surrealism
Surrealist works accounted for £30.2 million ($41.1 million) of the total. Yves Tanguy’s Titre inconnu (1929) brought £2.5 million ($3.4 million), among the artist’s highest results at auction, and Francis Picabia’s Deux amies (1940–41) sold for £3.3 million ($4.5 million). Works by Hans Bellmer, Dorothea Tanning, Max Ernst, and André Masson also achieved strong results.
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Design proved equally strong. All nine works by Claude and François-Xavier Lalanne, almost all made especially for Pauline, made £13.6 million ($18.5 million) against a combined high estimate of £2.6 million. A unique Structure végétale mirror and wall light went up to £3.6 million ($4.9 million), nearly eight times its estimate, while a pair of console tables reached £3.8 million ($5.2 million), fifteen times expectations.
See also: Six Facts to Know: Les Lalanne
Other highlights included Andy Warhol’s The Scream (After Munch), which climbed to £6.6 million ($9 million), more than double its high estimate, and Jeff Koons’s Poodle, which fetched £2.4 million ($3.2 million). Picasso’s late Buste d’homme achieved £2.5 million ($3.4 million), at the upper end of its estimate.
See also: Migrating Objects: The Collection of Peggy Guggenheim
The strong result will have provided a boost in confidence for Sotheby’s, which will turn to New York in November with the collections of Cindy Pritzker and Leonard Auder recently announced for its marquee sales. More broadly, the evening reflected two powerful currents in today’s market. Surrealism, still buoyed by last year’s centenary celebrations and a run of landmark institutional shows, continues to draw fierce competition, with prices climbing well beyond historical benchmarks. At the same time, single-owner sales remain among the most resilient segments, with collectors eager to buy into the provenance and personality of great collections. Pauline Karpidas, known as a grand patron with a bold, eclectic eye, offered both — a combination that helped turn Wednesday’s sale into a landmark night in London.
