Auction reports from Sotheby’s reveal that a cubist oil painting by 20th century French artist Fernand Leger generated sales of $39.2 million on 7 May at New York based auction. The pre-auction estimate for the 1912-1913 painting, “Study for a Woman in Blue,” was $35 million to $45 million. The conceptual arithmetical painting portrays a woman in a blue dress seated at a table with her hands in her lap.

Another painting that has set an artist record is Edvard Munch’s (munk) 1902 “Girls on a Bridge” as it got sold off for $30.8 million against its pre-sale guesstimate of $24-$28 million.

Via USAuctionInfo

One can’t assist but speculate number of nattily decent citizens sitting countless nights at International auction houses viz. Sotheby’s, Christie’s and Phillips de Pury in coming next two weeks. A good percentage could be of serious bidders and others would be voyeurs eager to observe an implosion of $$$$ art market. It’s now being years that collectors and media have been waiting for the day when prices would finally top. But this time auction houses are hopeful that time will take a toll and things will play out well as they did three months ago in London, when, in spite of global economic nausea, a Francis Bacon triptych painting fetched $51.6 million.

Some highlights of the upcoming auctions:

Artist: Francis Bacon

Artwork: “Three Studies for Self-Portrait,’’ Triptych 1976
Auction House: Christie’s
Ballpark Figure: $25 million and $35 million

Artist: Jeff Koons

Artwork: “New Hoover convertibles, New Shelton Wet/Drys 5-Gallon, Double Decker”
Auction House: Christie’s
Sales: Christie’s post-war and contemporary sales
Ballpark Figure: $10 million
Date: 13 May

Artist: Monet

Artwork: “Le Pont du Cheminde Fer � Argenteuil,” 1873

Auction House: Christie’s
Ballpark Figure:$35 million
Date: 6 May

Artist: Edvard Munch

Artwork: “Girls on a Bridge,” a 1902 oil canvas painting
Auction House: Sothey’s New York Impressionist and Modern Art – Part I auction
Ballpark Figure: $28 million
Date: 7 May
Artist: Alberto Giacometti

Artwork: “Grande Femme Debout II,” 1959-60
Auction House: Christie’s
Ballpark Figure: $18 million
Date: 13 May
Artist: Henri Matisse, French painter

Artwork: “Portrait au mateau bleu”
Auction House: Christie’s Spring Impressionist and Modern sales
Ballpark Figure: $17 million
Date: 6 May
Artist: Pierre Patel the Elder

Artwork: ‘A landscape at Evening with Travelers’ and a Hunter Near Classical Ruins’ painted around 1640
Auction House: Sotheby’s London
Ballpark Figure: $800,000-$1.2 million
Date: 9 July

Via NYT