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SOTHEBY'S FRIEZE WEEK SALE TOTALLED OVER 83 MILLIONS GBP
27 October 2016
Category : MARKET

Sotheby's Frieze week sale series totalled £83.5 million, exceeding its top estimate. The Contemporary Art Evening Auction alone realised £48 million, the highest amount ever achieved during Frieze week. The sale was led by two works by Gerhard Richter and Jean-Michel Basquiat, which both went over £10 million.

Basquiat's Hannibal became the most outstanding work sold at auction in London during the week sold for  £10.6 million, double the pre-sale estimate while Richter's 1982 abstract painting Garten achieved £10.2 million, almost tripling its estimate. Two other works by the artist from the same collection also sold over estimate: a small early Abstraktes Bild which went for £2.8 million; and Säulen, from 1968 which reached £3 million.

A new record was established for Michael Krebber, a former studio assistant to Georg Baselitz and Martin Kippenberger , when his Untitled painting from 1997 was hammered down at £191,000. Peter Doig's Grasshopper (1990) , which sold at auction in 2011 for £ 894,130, doubled its estimate to fetch £5.9 million. 

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