Results: Chrisite's Post War & Contemporary Art Evening Sale, London

Chrisite's was pleased with the results of its October Post War and Contemporary Art evening sale.  The sale offered 51 lots of which  44 were sold for a very respectable buy through rate of 86%.  The sale totaled $31.36 million against a pre sale estimate between $25.4 million and $36.1. Buyer breakdown (by lot) was 66% Europe including the UK and 34% Americas. Nine lots sold for over $1 million.

The top selling lot was by Damien Hirst (b. 1965), I am Become Death, Shatterer of Worlds, 2006 and sold for 4.37 million against a pre sale estimate of $3.97 million and $5.6 million (see image).

Christie's states about the sale

“Today’s auctions built on the recent growth of confidence in the market for contemporary art and saw consistent bidding throughout. We welcomed many new collectors for the first time, a significant number of whom were bidding at high levels on some of the top lots at the sales, and there was particular excitement for works by many of the younger artists.”

The top price was paid for I am Become Death, Shatterer of Worlds, an epic butterfly painting by Damien Hirst (b.1965) which sold for £2,169,250 / $3,472,969 / €2,462,099. In total, 40% of lots sold above estimate and record prices at auction were established for 5 artists; Ged Quinn, Kelley Walker, Otto Piene, Roman Opalka and Liza Lou.

Further highlights included Kaikai Kiki, 2005, by Takashi Murakami (b. 1962) which realized £1,945,250 / $3,114,345 / €2,207,859 against an estimate of £400,000 to £600,000; and Negro Period, 1986, by Jean-Michel Basquiat (1960-1988) which achieved £1,497,250 / $2,397,097 / €1,699,379 (estimate: £1.2 million to £1.8 million).