NEW YORK, NY.- Keno Auctions’ Important American and European Paintings sale, the first auction conducted at the company’s headquarters, achieved a total of $1.512 million, exceeding the pre-sale high estimate of $1.265 million by $300,000. The auction was 73% sold by lot (including aftersales), with 49 buyers; 11 of whom were successful through the internet.

The Otter Cliffs, Mount Desert Island, Maine, 1866 by William Trost Richards, which was purchased more than 60 years ago as a sleeper at a Vermont country auction by the consignor, was the sale’s highest selling lot achieving the price of $235,600 (est. $40,000/100,000) after several minutes of fierce bidding in the room and telephone.

Jean-Paul Riopelle, a member of the Canadian artists group Les Automatistes, created the dynamic painting Folâtre in 1957; the oil on canvas clearly shows the master at the peak of his creative genius. The picture was eagerly sought by a multitude of bidders, 14 clients on the telephone and several others bidding through the internet and in the room, before selling to an international collector for $173,600 (est. $80,000/120,000) on site.

The auction offered a number of fresh to the market 20th century pictures from an Arizona collector, with an important contemporary work Topologie de Illusion, 1990 which fetched $99,200 (est. $50,00/100,000). The artwork, a large scale vivid, abstract painting by renowned Latin American artist Roberto Matta, attracted an international audience with electric bidding in the room, on the telephone and online. The painting sold to a Florida-based dealer/collector on the floor.

Leigh Keno, President of Keno Auctions, commented: “We are very pleased with today’s result, especially for the prices achieved by visually exciting works such as David Johnson’s Sunset on the Unadilla River, New York, 1856 which hammered at $167,400 (est. $50,000/80,000) that a dealer bought for more than the high estimate. Morning Fishing Boats at Anchor, a masterpiece by a leader of The Hague School Hendrik Willem Mesdag, sold for a strong $198,400 (est. $40,000/80,000), and is a work we thought had remarkable potential and inspired competition between collectors worldwide. We are delighted to see the caliber of new and established clients in the sale who bid decisively on the best examples of artworks. We had a large number of modern and contemporary works in this auction and we are looking forward to offering more of this type of artwork in the future.”

Highlights from the Important American and European Paintings Sale include:

• Lot 18
William Trost Richards (American, 1833-1905)
The Otter Cliffs, Mount Desert Island, Maine, 1866
Signed and dated lower right “WM T Richards / 1866″
Oil on panel backed canvas
36 1/4 x 29 inches
Sold amount: $235,600 (Estimate: $40,000-100,000)

• Lot 39
Hendrik Willem Mesdag (Dutch, 1831-1915)
Morning Fishing Boats at Anchor
Signed lower right “H W Mesdag”
Inscribed with title on a label affixed to the stretcher
Oil on canvas
24 x 51 inches
Sold amount: $198,400 (Estimate: $40,000-$80,000)

• Lot 70
Jean-Paul Riopelle (Canadian, 1923-2002)
Folâtre, 1957
Signed lower right "Riopelle"
Oil on canvas
23 ½ x 28 ½ inches
Sold amount: $173,600 (Estimate: $80,000-$120,000)

• Lot 14
David Johnson (American, 1827-1908)
Sunset On the Unadilla River, 1856
Signed and dated lower left, "D Johnson 1856"
Inscribed and titled on a label affixed to the frame
Oil on canvas
19 x 28 1/8 inches
Sold amount: $167,400 (Estimate: $50,000-$80,000)

• Lot 66
Roberto Matta (Chilean, 1911 – 2002)
Topologie de Illusion, 1990
Signed lower right
Acrylic on canvas
78 x 84 inches
Sold amount: $99,200 (Estimate: $50,000-$100,000)

• Lot 22
George Henry Hall (American, 1825-1913)
A Plea for Peace, 1861
Signed and dated lower left “G.H. Hall/1861″
Oil on board
18 3/4 x 15 inches
Sold Amount: $86,800 (Estimate: $25,000-45,000)

• Lot 27
Hamilton Hamilton (American, 1847-1928)
Sierras, 1873
Signed and dated and inscribed with title lower right “Hamilton Hamilton ’73 / Sierras S****” (indistinct)
Oil on canvas
18 x 29 7/8 inches
Sold Amount: $74,400 (Estimate: $20,000-40,000)

• Lot 63
Esteban Vicente (American, 1903-2001)
On Space, 1987
Signed, dated and inscribed with title verso “Esteban Vicente”
Oil on Canvas
54 x 64 inches
Sold Amount: $65,100 (Estimate: $30,000-60,000)

• Lot 59
Charles Demuth (American, 1883-1935)
Two Men and a Woman on the Beach, 1912
Signed and dated lower right “C. Demuth 1912″
Watercolor over pencil on paper on board
8 1/2 x 5 1/4 inches (sight)
Sold Amount: $58,280 (Estimate: $12,000-18,000)

Keno Auctions’ next sale is scheduled for October 2, 2012 and includes an impressive collection of fresh-to-the market fine European and American paintings, furniture and decorative arts.