A painting by Belgian surrealist René Magritte has set a new auction record, fetching €114 million (£99 million) at Christie’s in New York. The artwork, L’empire des lumières, created in 1954, was sold after a brief yet intense bidding war, which highlighted the enduring appeal of Magritte’s iconic works.
A Landmark Sale
The bidding for L’empire des lumières began at $75 million (£59 million) and rapidly surpassed $100 million (£78 million), culminating at $105 million (£82 million) before commissions. With auction fees included, the final price reached $121 million, equivalent to €114 million, making it the most expensive work by Magritte ever sold at auction.
The previous record for a Magritte painting was €71.3 million, set in 2022 for another version of L’empire des lumières auctioned by Sotheby’s in London. This latest sale reflects a nearly 60% increase in value for the surrealist’s celebrated series, which explores the poetic duality of light and darkness.
The Allure of ‘L’empire des lumières’
Magritte produced 17 versions of L’empire des lumières between 1949 and 1965. The series juxtaposes a daytime sky with a nocturnal landscape, embodying a theme of contrast that fascinated the artist. In his own words, the interplay of day and night held “strong poetic power,” consistently inspiring his work.
The specific version sold on Tuesday evening had only three previous owners, a rarity that added to its value. Its provenance includes a brief stint with a New York gallery between 1964 and 1986, further enhancing its appeal as a “fresh-to-market” piece, according to experts.
A Stellar Collection
The painting was part of the estate of Mica Ertegun, a prominent collector who passed away in 2023. Her collection included two other Magritte works, La cour d’amour (1960) and La Mémoire (1945), which sold for $10.5 million (€9.9 million) and $3.68 million (€3.47 million), respectively. Both fell within the lower end of pre-sale estimates, underscoring the uneven demand for Magritte’s less iconic works.
Additionally, a gouache study of L’empire des lumières was sold for $18 million (€16.9 million), nearly double its estimate, reflecting the exceptional status of this series within Magritte’s oeuvre.
Strategic Auctioneering
Experts attribute the record-breaking sale not only to the painting’s artistic merit but also to Christie’s strategic marketing. Subtle details, such as variations in the brightness of a streetlamp, were highlighted to emphasise the uniqueness of this version. This meticulous approach, coupled with the painting’s limited ownership history, likely contributed to the premium price.
Peter Bernaerts, an auctioneer with the Antwerp-based Bernaerts Auctioneers, noted that iconic works like L’empire des lumières command exceptional interest. However, he cautioned against interpreting this result as indicative of a universal surge in Magritte’s market value. “The demand is strongest for his most recognisable works,” he said, pointing to the modest results of the other Magritte pieces sold in the same auction.
A Cooling Art Market?
While the sale of L’empire des lumières marks a milestone, it occurs against a backdrop of a cooling global art market. The post-pandemic period has seen a slowdown in demand, with some major works by renowned artists failing to find buyers. Bernaerts attributes this trend to an oversaturation of auction platforms and a shift in collector priorities following the pandemic boom.
Nevertheless, Magritte’s crossing of the €100 million threshold places him among a select group of artists whose works have achieved such valuations. These include names like Leonardo da Vinci, Pablo Picasso, Gustav Klimt, and Andy Warhol.
Speculation About the Buyer
The identity of the new owner remains undisclosed, though speculation suggests the painting could have been acquired by a Middle Eastern museum seeking to enhance its collection. Iconic works such as L’empire des lumières are not only cultural assets but also draw public attention and generate revenue through associated merchandise and exhibitions.
Magritte’s Enduring Legacy
René Magritte’s market ascent underscores the timeless appeal of his enigmatic and philosophical imagery. His record-breaking sale confirms his place among the greats of art history while demonstrating the enduring allure of surrealism in the modern era. As the art world takes stock of this landmark sale, it remains to be seen how Magritte’s market will evolve in the coming years.
