Yesterday, January 25th, the first Modern and Contemporary Art Auction of 2024 took place at Morton Subastas, with 89 lots sold. Worthy of highlights are the names of Sergio Hernández, Irma Palacios and Gustavo Montoya, names that took the highest bids last night.
The first piece that shocked us was Trigal (lot 33), an oil on canvas work by Irma Palacios. The estimate of the painting was set between $60,000 - $80,000mxn. This piece, signed and dates 2019 on the stretcher bars, was accompanied by a certificate of authenticity by the artist, signed in March 2023. Starting with an offer of $50,000mxn, after 49 bids, the lot closed when the hammer hit $420,000mxn, which means it had a 740% increment above the starting bid.
The second lot worth mentioning is an artwork by Sergio Hernández, an oil painting and sand over canvas, titled Contorsionistas (lot 112), with an estimate of $200,000-$400,000mxn. This lot started with a bid of $180,000mxn, stealing the attention of all the participants for over more than four minutes, to finally conclude when the hammer hit $850,000mxn. Contorsionistas closed with an increment of 372.2% over its starting offer.
Another highlight is Gustavo Montoya’s, Niña en Rosa de la serie Niños Mexicanos (lot 176), which presented only one offer for $280,000mxn. Although it wasn’t fought among bidders, the relevance of historical Mexican artists in the construction of the national identity discourses is reaffirmed with this piece.
Even if Contorsionistas was the highest sale of the night, Trigal by Irma Palacios takes the Top Lot title, thanks to its price increment, which was, without a doubt, the highest among all lots.
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