In a highly anticipated evening sale, Christie’s showcased Lucian Freud’s Ria, Naked Portrait (2006/7), which achieved an impressive £10 million (£11.8 million with fees), leading a solid event amidst a challenging market. This sale comes just two weeks after the auction house unveiled its new 500,000 sq ft headquarters in Hong Kong and opted to cancel its June Modern and contemporary art offerings, a decision that appears to have paid off.

The auction, held at 5 PM ahead of Sotheby’s 7 PM sale, realized a total of £81.9 million with fees from its 52 lots, exceeding the pre-sale estimate of £73.4 million to £110.6 million (calculated without fees), with 89% of lots sold. This marks an impressive 83% increase from last October’s results, although the cancellation of the June sales complicates direct comparisons.

Keith Gill, head of the Impressionist and Modern art department, commented, “Last night affirmed our decision to focus on two sale seasons in London, clearly aligning with what our clients were seeking.”

Blue-chip works performed exceptionally well, with Jeff Koons’ Balloon Monkey (Blue) (2006-2013) fetching £6.3 million (£7.5 million with fees) and Vincent van Gogh’s Kop van een vrouw met witte muts (Head of a Woman with White Cap) (1885) comfortably surpassing its estimate at £1.5 million with fees, likely buoyed by The National Gallery’s current exhibition.

Surrealist pieces also demonstrated strong demand. René Magritte’s Le grand style (1951) exceeded its estimate, selling for £2.1 million (£2.6 million with costs), while Leonor Fini’s Rogomelec (1978) sold for £720,000 (£907,200 with fees), surpassing its £450,000 to £650,000 estimate.

However, the evening was not without its challenges. Several lots were withdrawn prior to the auction, including Paula Rego’s Untitled No. 7 (1998/9), which heralded a disappointing trend for the artist’s works. Her Nativity (2011), estimated between £350,000 and £400,000, failed to find a buyer, and while Jenufa (1995) sold at Sotheby’s for £850,000 (£1 million with fees), it fell short of its £1.2 million to £1.8 million estimate.

The trend of setting auction records for emerging artists during Frieze week seems to have waned. However, a new record was established for the established artist Sarah Sze, whose Spell (undated) hammered at £600,000 (£756,000 with fees), matching its low estimate. Notably, 33 out of the 52 lots on offer were fresh to the auction market.

As bidding for a piece by Ed Ruscha sparked renewed energy, a voice in the room quipped, “Good, we needed a bit more drama.” While this touch of excitement was welcomed during a lengthy auction day, the art market, eager to regain its footing, may benefit more from stability than from drama.

The day sales in Impressionist and Modern art, along with Post-War and contemporary art, continue today, October 11.