On September 17, a sunny day in London, many passersby were struck by the sight of two enormous golden eyes gazing from either side of the entrance to the Sotheby’s building on New Bond Street. It was a unique tribute by the famed auction house to Pauline Karpidas, as 345 items from her personal collection were being auctioned that very day.
Frenzy
These pieces – all surrealist works – had never before been offered for sale and caused a frenzy among collectors eager to acquire them either personally or through representatives.
Art dealers and gallery owners commented that it wouldn’t be an exaggeration to say Sotheby’s London transformed into a surrealist “salon” for a day. A salon filled with works by Magritte, Picasso, Warhol, Giacometti, Koons, Lalanne, and others, which brought in $136 million for Pauline Karpidas.
The pre-sale estimate for the 345 lots was $92,259,900, and by the end of the auction, Sotheby’s appraisers and specialists could not hide their satisfaction with the outcome.
These were works that had pride of place in Karpidas’ iconic London home, and she shared her sentiments on the sale:
“Since I began my journey in the art world, I’ve had the honor of meeting wonderful people who made this collection possible — from Alexander Iolas, who opened my eyes and was my mentor, to the many incredible artists. I always saw myself as a temporary custodian of their creations, and I feel now is the right time for these works to find their next guardians.”
“I always saw myself as a temporary custodian, and I feel now is the right time for these works to find their next guardians,” says Pauline Karpidas.
Magritte and the Others
Sotheby’s warmly welcomed this exquisitely curated and highly personal collection of art and design. All 345 works were sold across online day and evening sessions, amassing a total of $136 million, all personally selected for sale by the widow of the late Dinos Karpidas, founder of Archirodon construction.
The evening sale alone on September 17 brought in $100 million from the sale of 55 works, according to The Value, a respected publication specializing in the auction world.
This was the highest total ever recorded for a single-owner auction in Europe, and the undisputed highlight was René Magritte’s “La Statue Volante.”
The undisputed highlight was Magritte’s “La Statue Volante,” held in the Karpidas collection for four decades and sold for $13.7 million.
This painting had been part of Pauline Karpidas’ collection for 40 years, and in its final bidding moment sold for $13.7 million. Although the entire collection was backed by Sotheby’s guarantees (meaning all items were guaranteed to sell), there was fierce competition across categories.
Several pieces saw bids from seven or more collectors, and 70% of the works exceeded high estimates, including custom-designed furniture by French duo Les Lalanne and two Edvard Munch-inspired paintings by Andy Warhol.
The evening sale’s core consisted of 23 surrealist works, which alone brought in $41.1 million.
“La Statue Volante,” painted by Magritte in 1940–41, was one of the last pieces Karpidas acquired from her mentor Alexander Iolas, the legendary Alexandrian gallerist who had represented Magritte throughout his career and was instrumental in his international success.
This enigmatic work, revisiting the iconic Venus de Milo motif, had been exhibited at Iolas Gallery in New York in 1959 and in Magritte’s first U.S. retrospective at the Dallas Museum of Art in 1960.
Ten more Magritte works were offered, including “La Race Blanche” (1937), previously owned by Belgian poet Mesens and philosopher Dimitri Mitrinović.
Last auctioned in 1985 for just $48,820, this piece fetched $2.5 million on September 17, after a bidding war among four private collectors.
Another standout was the plaster sculpture “Tête” (1960), which Karpidas had acquired in 1987 from Magritte’s widow and displayed among books in her London home. It sold for $1.2 million, more than double Sotheby’s high estimate, marking the highest price ever paid for a Magritte sculpture.
Experts said the auction confirmed the strength of Surrealism in today’s competitive art market.
The High Priest of Pop Art
The frenzy surrounding Les Lalanne’s creations was evident, with many of their pieces from Karpidas’ collection selling for well above their estimates, exceeding $1.34 million.
Claude and François-Xavier Lalanne, known as Les Lalannes, were close artistic friends of Karpidas. In 1978, she visited their workshop outside Paris and became a devoted admirer, commissioning works that came to define the interiors of her London home.
Interest in their work has surged in recent years, especially since Claude’s passing six years ago. In fact, François-Xavier’s sculptures alone brought in over $100 million at auctions last year.
Unsurprisingly, all nine Lalanne works in the Karpidas auction sparked bidding wars, with the final total reaching $17.6 million, five times Sotheby’s estimate. A bronze leaf wall light and a mirror from Karpidas’ bedroom sold for $4.8 million after seven bidders battled for 10 minutes, eight times the estimated price.
Two Console Végétale designs, each estimated at $200,000–$300,000, ultimately fetched $5.2 million, 15 times the combined high estimate.
The iconic “Unique Choupatte” by Claude Lalanne found a new owner for $2.5 million, far above its $600,000 estimate.
Another version from her collection, “Très Grand Choupatte”, set a new auction record for Claude Lalanne, selling for over $5.3 million.
Claude Lalanne’s “Très Grand Choupatte” set an auction record for the artist, exceeding $5.3 million.
Of course, the night wouldn’t have been complete without works by Andy Warhol, the high priest of pop art, whom Karpidas met in 1978, introduced by Alexander Iolas. Their friendship flourished over shared passions for showy jewelry, particularly pieces by Belperron and Jar.
Two Warhol works from his “Art from Art” series, inspired by Edvard Munch, stole the spotlight. Once controversial, both sold above estimates to the same buyer, having resided in Karpidas’ London home until now.
The Vision
Warhol’s work based on Munch’s “The Scream” was hotly contested for 10 minutes by at least six bidders, eventually selling for $8.5 million.
Warhol’s “The Scream” homage sold for $8.5 million.
A second Warhol piece, “Madonna and Self Portrait with Skeleton Arm,” fetched $2.84 million — a far cry from the $158,000 it brought at auction back in 1990.
Warhol’s “Madonna and Self Portrait with Skeleton Arm” sold for $2.84 million.
35 years later, the price paid for this piece from the Karpidas collection reflects the keen eye and passion of a woman who pursued art not only out of love and appreciation, but also deep respect and affection for the creators behind it.
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