Sotheby’s May 2011 African, Oceanic and Pre-Columbian Art Sales Bring $21.8 million

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NEW YORK, NY.- Sotheby’s African, Oceanic and Pre-Columbian Art auctions today brought a combined total of $21,846,692, well over the high estimate (total est. $8.3/12.6 million).* The single owner sale of the Robert Rubin Collection of African Art fetched $11,742,188, many multiples of the pre-sale estimate (est. $2.5/3.9 million) and was 94% sold-by-lot. The afternoon saw the various owner sale of African, Oceanic and Pre-Columbian Art bring $10,104,504, also comfortably over the high estimate (est. $4.2/5.9 million). In total six objects sold for more than $1 million and there was strong institutional bidding. Heinrich Schweizer, Head of the African and Oceanic Art Department in New York said: “We are delighted with the results of today’s sales which brought $21.8 million. The exceptional total achieved for the Robert Rubin Collection is a testament to Robert’s extraordinary taste and discernment. The m