Edward Hopper's Cape Cod oil sells for $9.6m in NY

paulfrasercollectibles

2015-06-26 13:04:22

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Edward Hopper's Cape Cod oil sells for $9.6m in NY

Edward Hopper's October on Cape Cod was the leading light at Christie's American Art sale

Edward Hopper's October on Cape Cod has sold for $9.6m to headline Christie's American Art sale in New York.

The oil on canvas, produced by the American artist in 1946, sold well within its $8m-12m estimate at the Rockefeller Plaza on November 28.

Edward Hopper October on Cape CodThe most valuable item ever sold to an online buyer by an international auction house

The painting superbly conveys the space and peace of the Cape away from the busy summer months, and portrays a view of the region that very few witness.

Hopper, who died in 1967, spent several months on the Cape each year later in life.

Elizabeth Sterling, Christie's head of American Art in New York, said: "Painted in the artist's signature style [it] is one of the last paintings by the artist to remain in private hands," this last factor playing a key role in its strong showing.

Sterling added that the Hopper sale underscored "collectors' commitment to securing works of exceptional quality by American masters."

The work also has the distinction of setting an unusual auction record: that of the most valuable item ever sold to an online buyer by an international auctioneer.

The record for a Hopper remains the $26.8m achieved at Sotheby's in 2006 by his Hotel Window.

The auction realised $38.5m in all - with 72% of lots selling. That figure includes the $1.8m sale of Hopper's Barn at Essex; the Massachusetts scene comfortably beating its $1.2m high estimate.

We will bring you further details from the auction later today.

View our art for sale.

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