PRESS RELEASE | NEW YORK | 30 MAY 2013 FOR IMMEDIATE RELEASE

LATIN AMERICAN ART TOTALS $21,325,625 AT CHRISTIES NEW YORK

Fernando Botero Dancers Bronze with brown patina Price Realized: $1,143,750

Candido Portinari Meninos soltando pipas Oil on canvas Price Realized: $1,443,750 WORLD AUCTION RECORD FOR THE ARTIST

Alfredo Volpi Fachada Tempera on canvas Price Realized: $783,750

THE AMERICAS SOCIETY VISUAL ARTS DEPARTMENT ENDOWMENT BENEFIT REALIZES $687,000 BRAZILIAN CONTEMPORARY ARTISTS LEAD DAY SALE STRONG RESULTS ACHIEVED FOR PRIVATE COLLECTIONS
New York Christies Latin American Art sale on May 29 and 30 achieved $21,325,625 (14,074,913 / 16,420,731), selling 72% by lot, 75% by value and setting 9 new world auction records. With over eleven countries represented among the artists, bidders from throughout the Americas, Europe and Asia vied for works ranging from monumental sculptures from established artists like Fernando Botero to offerings from 1950s avant-garde movements by Brazilian modernists. Candido Portinaris Meninos soltando pipas realized $1,443,750 and remained the top lot of the sale and established a new world auction record for the artist. Throughout the sale, works at both the top end and the middle market level performed consistently well and several pieces in the sale demonstrated the strength of the Latin American market. In addition to Brazilian contemporary artists, South American classical artists such

as Alejandro Obregn, Fernando Botero, Oswaldo Vigas, and Armando Morales injected enthusiasm into the saleroom, affirming their importance in the market. Strong results were achieved From the Collection of Dr. Ruiz Bethoven do Amaral and Property from a Distinguished Collection. A new world auction record was established for Milton Dacostas Figura tripling its pre-sale estimate to realize $171,750. Furthermore, three works by Alfredo Volpi were among the top ten lots of the two-say sale, furthering the strength of the artists presence at auction. Virgilio Garza, Head of Latin American Art, commented: The day sale continued with great successes ending in a fantastic sale overall. We were thrilled to have achieved such a strong total for the Americas Society Foundation, a partnership we look forward to continuing. While Brazilians led the sale, I was excited to see Botero drawings and sculpture maintained a significant stance in the sale along with other South American artists. NEW AUCTION RECORDS

Candido Portinari (Brazilian 1903-1962) Meninos soltando pipas, 1941 oil on canvas Price realized: $1,443,750 WORLD AUCTION RECORD FOR THE ARTIST

Tilsa Tsuchiya (Peruvian 1932-1984) Mujer volando, 1974 oil on canvas Price realized: $339,750 WORLD AUCTION RECORD FOR THE ARTIST

Remedios Varo Visita al pasado, 1957 graphite and pigment on paper Price realized: $291,750 WORLD AUCTION RECORD FOR THE ARTIST FOR A WORK ON PAPER

Francisco Narvez Untitled ebony Price realized: $267,750 WORLD AUCTION RECORD FOR THE ARTIST

Milton Dacosta (Brazilian 1915-1988) Figura, 1954 oil on canvas Price realized: $171,750 WORLD AUCTION RECORD FOR THE ARTIST

Oswaldo Vigas (Venezuelan b. 1926) Guardiana, 1967 oil on canvas Price Realized: 111,750 WORLD AUCTION RECORD FOR THE ARTIST

Djanira (Brazilian 1914-1979) Piano e violin, 1960 oil on canvas Price Realized: $52,500 WORLD AUCTION RECORD FOR THE ARTIST

Miguel ngel Rojas (Colombian B. 1946) David #4, 2005 digital print mounted on board Price Realized: $18,750 WORLD AUCTION RECORD FOR THE ARTIST

Valdirlei Dias Nunes (Brazilian b.1969) a.) Untitled, 2001 oil on canvas Price Realized: $11,875 WORLD AUCTION RECORD FOR THE ARTIST

PRESS CONTACT: Gabriel Ford | +1 212 636 2680 | gford@christies.com

About Christies Christies, the world's leading art business, had global auction and private sales in 2012 that totaled 3.92 billion/$6.27 billion. Christies is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christies offers over 450 auctions annually in ove r 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War and Contemporary, Impressionist and Modern, Old Masters and Jewellery. Private sales totaled 631.3 million/$1 billion in 2012, an increase of 26% on the same period last year. Christies has a global presence with 53 offices in 32 countries and 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amster dam, Dubai, Zrich, and Hong Kong. More recently, Christies has led in growth markets such as Russia, China, India and the Middle East, with successful sales, exhibitions and initiatives in Moscow, Baku, Beijing, Mumbai, Delhi, Jeddah, Abu Dhabi, Doha and Dubai. *Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium and do not reflect costs, financing fees or application of buyers or sellers credits. ### Images available on request Visit Christies Website at www.christies.com Complete catalogue available online at www.christies.com or via the Christies iPhone app

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Latin American Art N e w Y o r k , 2 9 - 3 0 M a y 2 0 1 3 , S a l e #2 7 0 8

[All sold prices include buyers premium]

218 lots sold 302 lots offered Lot

65

Total: $21,325,625/14,074,913/16,420,731 0.66= $1 / 0.77=$1 Description Estimate ($)

800,000 1,200,000

72% sold by lot 75% sold by value Buyer

South American Private

Price Realized
$1,443,750 952,875 1,111,688 $1,143,750

Candido Portinari (Brazilian 1903-1962), Meninos soltando pipas, oil on canvas, painted in 1941. WORLD AUCTION RECORD FOR THE ARTIST Fernando Botero (Colombian b. 1932), Dancers, bronze with dark brown patina, executed in 2000. Alfredo Ramos Martnez (Mexican 1871-1946), Mujeres con frutas (Women with Fruit), oil on canvas, painted circa 1930. Alfredo Volpi (Brazilian 1896-1988), Fachada (No. 1331), tempera on canvas, painted circa late 1960s. Alfredo Volpi (Brazilian 1896-1988), Bandeirinhas horizontais com mastro (No. 1330), tempera on canvas, painted circa mid 1970s. Alfredo Volpi (Brazilian 1896-1988), Bandeirinhas com mastro (No. 2133), tempera on canvas, painted late 1970s. Fernando Botero (Colombian b. 1932), Naturaleza muerta con sanda y naranjas, oil on canvas, painted in 1970. Matta (Chilean 1911-2002), Yennes, l'vitation in blue, oil on canvas, painted in 1939. Armando Morales (Nicaraguan 1927-2011), Lac Granada, II, oil on canvas, painted in 1991. Rufino Tamayo (Mexico 1899-1991), Sonriente en rosa, oil and sand on canvas, painted in 1988.

31

700,000 1,000,000

754,875 880,688 $1,107,750

European Trade

38

1,000,000 1,500,000

731,115 852,968 $783,750

US Private

69

500,000 700,000

517,275 603,488 $651,750

South American Trade

71

600,000 800,000

430,155 501,848 $507,750

South American Private

75

450,000 650,000

335,115 390,968 $483,750

South American Trade

47

400,000 600,000

319,275 372,488 $435,750

South American Trade

11

400,000 600,000

287,595 335,528 $387,750

South American Private

21

250,000 350,000

255,915 298,568 $375,750

US Private

46

400,000 600,000

247,995 289,328

US Trade

PRESS CONTACT: Gabriel Ford | +1 212 636 2680| gford@christies.com Please click here to view the full international schedule of upcoming sales from the Latin American department at Christies. Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium and do not reflect costs, financing fees or application of buyers or sellers credits.