On March 1, as part of Christie's 20th/21st Century Evening Sale in London, Franz Marc's painting Foxes (1913) was offered for sale after it was restituted to the heirs of its former owners last year.
With a "price upon request" estimate, the painting started getting bids at £26 million. This starting price was already higher than Franz Marc's $25 million record, set in 2008 for Grazing Horses III.
Related: The 6 Most Famous German Paintings
The battle between several telephone bidders lasted barely two minutes, during which the price quickly rose. The gavel eventually fell at £37 million, which, plus premium and fees, is £42 million (approx. $56.4 million), raising the bar for the German artist.
For more news from the auction market, check out Barnebys Magazine.
