News-Antique.com - May 12,2011 - Photo Caption: Andy Warholl, Self Portrait, 1963-1964, Price Realized, $38,442,500. World Auction record for portrait by the artist.
New York, 11 May 2011 — Christie’s Post-War and Contemporary Art Evening Sale realized $301,683,630 (£184,026,630/€211,178,100), exhibiting a thriving and healthy market for art, in which buyers fiercely competed for works of utmost quality, provenance and beauty. The auction’s sell through rates — 95% sold by lot and 99% sold by value — reaffirms Christie’s position as market leader for the category.
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 auction 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 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.
In a landmark for contemporary photography, 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.
Buyers (by lot / by origin) were 61% American, 23% European, 3% Asian and 13% other.
Please find the Top Ten results sheet attached.
Christie’s, the world's leading art business had global auction and private sales in 2010 that totaled £3.3 billion/$5.0 billion. Christie’s is a name and place that speaks