Results: Christie's NY Post War and Contemporary Art Evening Sale

Following the NY sales from Sotheby's, Christie's held its NY Post War and contemporary art evening sale. The sale, by many factors was a success, especially when compared to the recent contemporary sales at Sotheby's. The Chrisite's sale totaled $301.68 million including buyers premiums, and set numerous artist records at auction. The sale offered 65 lots with 62 selling for a very strong buy through rate of 95%. The sale sold 99% by value. Pre sale high estimates for the evening sale were $299.2 million, so the sale just topped the high estimate when the buyers premium is included.

The top selling lot was by Andy Warhol (1928-1987), Self-Portrait, acrylic and silkscreen ink on canvas, in four parts, painted in 1963-1964,selling for $38.44 million including buyers premium. The pre sale estimate for the lot was $20-$30 million.

Buyers (by lot / by origin) were 61% American, 23% European, 3% Asian and 13% other.

Christie's reported on the sale.

Brett Gorvy, Christie’s International Co-Head of Post-War and Contemporary Art, Deputy Chairman comments: “Tonight’s extraordinary results exemplify the market’s vigor for top-quality works of art. Christie’s remains the Warhol leader, with $90,988,000 in Warhol sales in this auction alone; including the establishment of a brilliant new world record for a portrait by the Pop master for his seminal 1963-1964 Self-Portrait, which achieved $38,442,500. A total of seven new world auction records were established, including those for Cindy Sherman, Cy Twombly and cutting-edge contemporary artist, Urs Fischer, whose Untitled (Lamp/Bear), realized $6,802,500 – six times the artist’s previous world auction record. The sale results reflects Christie’s mission to distinguish itself in offering buyers major objects with fair estimates, underscored by a superior responsibility to the works of art themselves.”

Astounding prices were achieved for works by Andy Warhol, as all eight works of the artist’s works offered were sold for a combined total of $90,988,000. Most notably Christie’s established a new world auction record for a portrait by Warhol with the evening’s top lot, Self-Portrait 1963-1964, which realized $38,442,500. The work was finally sold after a riveting and unprecedented 16-minute competition between bidders in the room and on the phone.

Significant prices were also achieved for, Mark Rothko, whose rediscovered Abstract Expressionist masterpiece from 1961, Untitled #17, realized $33,682,500 and another for Warhol whose 1986 Self Portrait, depicting himself in signature Fright Wig rendered in a shock of Pop Red against a black background realized $27,522,500.

In total, seven world auction records were achieved including those for Cy Twombly, whose Untitled from 1967 realized $15,202,500; Urs Fischer for Untitled (Lamp/Bear) which achieved, $6,802,500; Richard Diebenkorn, for Ocean Park #121, from 1980 which brought in $7,698,500 and Anselm Kiefer, whose Dem Unbekannten Maler (To the Unknown Painter) from 1983 realized $3,554,500.

Two world additional world auction records were set for the same work. The sale of Cindy Sherman’s Untitled color coupler print from her 1981 Centerfold series was not only a world auction record for Sherman, but represents a new world auction record for any photograph.

Overall, two lots sold over $30 million, four lots sold above $20 million, five lots sold above $10 million, 14 sold over $5 million and 52 sold over $1 million.