Bidding Battle for a Rare Kossoff Painting Sets New World Record | Sotheby's

Why It Matters

The record price validates the School of London as a premium asset class, likely driving higher valuations and intensified competition for similar works.

Key Takeaways

• Sotheby's sold Kossoff's "Children's Swimming Pool" for £4.2m.
• Painting set new world record for any Kossoff work.
• Bidding war spanned from £400k to £4.2m in minutes.
• Piece part of Lewis collection featuring Bacon, Freud, Kossoff.
• Record underscores rising market demand for School of London artists.

Summary

At a Sotheby’s London evening sale, Leon Kossoff’s 1969 work “Children’s Swimming Pool” fetched a hammer price of £4.2 million, establishing a new world‑record for the artist. The painting, the centerpiece of the Lewis collection that also includes Francis Bacon and Lucian Freud, ignited a rapid bidding war that climbed from an opening £400,000 to the final figure in a matter of minutes.

The auctioneer narrated a cascade of bids, with the price jumping in £50,000‑£200,000 increments before breaching the £4 million threshold. The piece, described as “monumental in scale, both intimate and epic,” is considered one of Kossoff’s finest, and its sale reflects the growing appetite for post‑war British School of London works among global collectors.

A memorable moment came when the auctioneer noted that the painting had been off the market for over three decades, urging bidders not to miss the opportunity. The final bid of £4.2 million was hailed as a deserved record, cementing Kossoff’s place alongside his more celebrated peers.

The result signals a broader re‑valuation of mid‑century British art, suggesting that investors and museums may increasingly target works by the School of London as both cultural touchstones and high‑return assets.

Original Description

Ten bidders battled it out over Leon Kossoff’s rare swimming pool painting, which made a splash at £5 million at Sothebys London in the Modern and Contemporary Evening Auction, presented by Sotheby's International Realty.

‘Children’s Swimming Pool, 11 o’clock Saturday Morning, August’ is one of five works from Kossoff’s series depicting Willesden’s public pool. Part of the storied Lewis Collection, it’s a monumental yet intimate image of community and modern life.

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