The art world witnessed a historic moment as Belgian Surrealist René Magritte’s “The Empire of Light” soared past the $100 million mark at Christie’s fall auction in Manhattan. The iconic painting fetched an impressive $121.2 million with fees, setting a new record for Magritte and establishing him as the 16th artist to join the exclusive nine-figure club.

The Record-Breaking Auction

Held in a moody, Surrealist-inspired setting, the auction captivated attendees as two telephone bidders engaged in a 10-minute duel for the enigmatic masterpiece. Guaranteed to sell for at least $95 million, “The Empire of Light” ultimately claimed the highest price ever paid for a Surrealist work of art at auction.

This five-foot-tall oil painting, completed in 1954, is among the most celebrated of the 17 versions Magritte created of this dreamlike scene, featuring a nocturnal street under a bright daytime sky. Christie’s offered it as part of the collection of Mica Ertegun, a renowned socialite and philanthropist.

Why Magritte Now?

“Magritte is so contemporary,” noted Brussels gallerist Paolo Vedovi, emphasizing the poetic and escapist qualities of the artist’s work. “Every big collector now wants a Magritte.” The artist’s surreal imagery, blending reality and illusion, continues to resonate with today’s audiences, making his pieces highly sought after.

The Art Market’s Evolution

The sale also marked a rebound for the art market, which has been in a slump for the past two years. Rising stock prices and tax policy changes have encouraged affluent collectors to re-enter the market. The success of Christie’s event followed a strong showing at Sotheby’s, where a Monet painting fetched $65.5 million, and a session featuring works from the Sydell L. Miller collection raised $216 million.
Magritte’s milestone highlights a broader trend: the increasing focus on quality and iconic works. Collectors are demonstrating a “flight to quality,” as noted by art adviser David Norman. “The higher the quality, the more difficult to find, in good times or bad.”

With the art world’s appetite for masterpieces stronger than ever, this moment signals renewed momentum for iconic artists like Magritte and underscores the enduring power of Surrealism in modern collecting.