Oaxacan School Dominates Latin American Art Auction

Works by Sergio Hernández and Rodolfo Morales Sold for Over Two Million Pesos
The Morton Auctions Latin American Art Auction was full of surprises, as the Oaxacan school dominated with Sergio Hernández's untitled oil painting, which fetched 2,133,840 pesos, exceeding expectations.
Following this trend, Rodolfo Morales' work sold for 2,008,320 pesos, and an ink on paper by Francisco Toledo for 188,280 pesos.
RUFINO TAMAYO'S PORTRAIT OF OLGA FAILS TO SELL

In contrast, the painting "Portrait of Olga" by Oaxacan artist Rufino Tamayo, which had a starting price of 17 million pesos, failed to sell, the Mexican auction house reported.

The surprises we saw point to a market trend: it speaks to the growing interest in artists from the so-called Oaxacan school. “We are pleased with the higher-than-expected sales of works by the avant-garde artist Enrique Echeverría and the abstract artist Irma Palacios,” commented Fernanda Serrano, manager of the Modern and Contemporary Art Department at Morton Auctions.

Among the works that exceeded expectations were Irma Palacios’s “Deserts,” from the series “The Color of the Earth” (1998), which sold for 690,360 pesos; and a folding screen by David Alfaro Siqueiros, which fetched 2,635,920 pesos.

In addition, after a bidding war, lot 60 by Enrique Echeverría sold for 276,144 pesos; and a drawing on Japanese paper by Diego Rivera sold for 527,184 pesos.

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