Gray’s Auctioneers reports stellar results for its 19th and 20th Century European and American Paintings auction, held Thursday, July 29th. With 97% of its offered lots sold, the sale defied the traditionally slow summer auction season, and marks Gray’s most successful sale since opening its doors in 2007.

The depth of offerings was matched only by the intense interest both domestically and abroad, with participants from over 25 countries bidding online through Live Auctioneers, by proxy and also by phone.

Attendance was also strong at the showroom, where bidders enjoyed wine and refreshments while experiencing the excitement of a buying at auction. President and Auctioneer, Deba Gray maintained a brisk and animated pace, while moving through over 400 lots, 385 of which sold.

Seven active phone lines serviced the more than 105 telephone bids; proxy bidding before the auction was fierce, while live online bidding was brisk with over 200 registrants. This remarkable turnout further illustrates the perfect storm of bidding options that Gray’s has developed. By utilizing the internet as well as creating the welcoming environment for live attendance, Gray’s is able to maximize exposure for its consignors, as well as provide for an ever expanding buyer base.

Interest in the broad collection of Hungarian artists represented was strong, with an oil on canvas work by painter Maria Szantho, Reclining Nude, selling for $4,400.00. The only  disappointment in an otherwise remarkable sale was the lower than expected figure reached for a stunning oil on canvas work, Portrait of an Unknown Woman by Augustus Edwin John, which brought only $8,000 despite being conservatively estimated at $10,000 to $15,000.

Conversely, a piece by Hungarian artist Pal Molnar, The Holy Family, an exceptional oil on canvas work, exceeded it’s estimate of $3,000 to $5,000- ultimately selling for $6,500.00

 Gray’s will continue this momentum with a Rare Books, Manuscripts and Autographs auction to be held August 19th 2010 at 1 pm. A fully illustrated catalog will be available online beginning Friday August 7th at www.graysauctioneers.com.