Art collectors from across the world parted with more than £94 million in three hours at Sotheby’s last night on the first night of what is likely to prove to be Europe’s biggest art sale.

Masterpieces by Monet, Degas and other iconic names sparked frenzied bidding as estimates were ignored and records tumbled. As many as 30 works sold for more than £1 million and broke six world records in a record total for a London evening sale. Over the coming days at Sotheby’s and rival auctioneers Christie’s as much as £400 million is likely to change hands.

Such was the desperation for museum-quality works that buyers were placing bids before the auctioneer could utter the next figure.

The biggest collectors concealed their identity by bidding over the telephone or through agents and the fiercest battle raged over Soutine’s angst-ridden L’Homme au Foulard Rouge, 1921. Faced with the chance to acquire an epitome of the artist’s mature style with its expressive pose, rhythmically charged brushstrokes and intense colours, the battle was reduced to three collectors who sent bidding soaring to £8.75 million.

Figures leapt out in increments that would buy a London house and collectors broke the artist’s record of £7.8 million. It went to a woman who had been sitting quietly in the second row until then.

As the hammer fell, there were hushed gasps from art lovers, dealers and onlookers crammed into the saleroom. Some might have remembered that, as recently as 1997, it had been bought by last night’s seller for £1.6 million.

The great irony was that Soutine was a tortured soul, a Russian emigré living in poverty in Paris. Like Van Gogh, he is more sought-after than ever.

Melanie Clore, deputy chairman of Sotheby’s, said: “It was a great evening, with strong prices across the board.” Dealers and outside experts agreed. Stephen Somerville, a leading fine art consultant, said: “The prices were phenomenally strong. The market is strong.”

Ten years ago, such auctions were dependent on American interest. Last night, the interest came from America, Asia and continental Europe. Having lavished their enormous wealth on mansions, yachts and football clubs, about 200 wealthy Russians with prime residences in London and Moscow are buying art in vast quantities. They like buying at auction because the interest from an underbidder reassures them that the art-work must be worth buying.

Bidders fought to acquire Dufy’s La Foire aux Oignons, a vibrant Breton market scene dating from 1907, which went for a record £4.05 million, against an estimated £1.8 million. They were just as keen on Sisley’s dreamy landscape Le Loing a Moret, en Été. Their bidding broke the world auction record in taking the figure to £2.9 million, well over the upper estimate of £2.5 million.

The sale had got off to a good start. Within 45 minutes, German and Austrian works alone had made more than £13.7 million. That the sale did so well came as little surprise to the trade. The quality of art again reflected London’s increasing status. More than 800 people, record numbers for London, turned up. As well its main room, Sotheby’s set aside a further two rooms for the overspill. Even then, about 300 people were prepared to stand.

Much of the main activity took place over the telephone. With every bid announced by the auctioneer, all eyes turned to the 40 or so members of Sotheby’s staff manning telephones lined up along the length of the room. They were speaking to Russian oligarchs and American billionaires, not to mention the wealthiest Taiwanese, Hong Kong and Chinese collectors, who prefer to conceal their identities. Boris Berezovsky, the exiled billionaire businessman, was believed to be among them.

The perception of a weak dollar is significant, but few expected it to affect the regulars such as Paul Allen, the Microsoft co-founder, Steve Wynn, the Las Vegas casino owner, and Steve Cohen, the Wall Street hedge fund billionaire.

Under the hammer

£8.75m Chaim Soutine L’Homme Au Foulard Rouge
£6.85m Pierre-Auguste Renoir Les Deux Soeurs
£4.16m Edgar Degas Trois Danseuses Jupes Violettes
£4.05m Raoul Dufy Le Foire aux Oignions
£3.82m Edvard Munch View from the Nordstrand
£3.15m Edvard Munch Springtime
£3.04m Maurice de Vlaminck Symphonie en couleurs (fleurs)
£2.9m William Sisley Le Loing a Moret, en Été
£2.26m Claude Monet Chrysanthãmes
£1.53m Ludwig Meidner My Nocturnal Visage

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