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CHRISTIE'S POSTWAR AND CONTEMPORARY SALE BRINGS $277 MILLION
16 November 2016
Category : MARKET


Despite a $ 277 million turnover, Christie's Postwar and contemporary sale held in New York on November 15, 2016 but it seemed the market has been slowing down during the past year.


17 of the 54 lots that sold were guaranteed either by the house or third parties while only two of the reported lots in the sale were reported with fixed-fee guarantees, a Christopher Wool Untitled sold for $5.5million and an Agnes Martin Untitled #9 for $4.28million but the sale seemed panting and was saved by Willem de Kooning's 1970s landscape which sold for for $66million, well over the 27 million it fetched in 2006 at Christie's before the buyer was forced to part with it after the 2008 financial crisis but not at a loss.

Meanwhile, Jean Dubuffet's Les Grandes Arteres  bought privately more than 50 years ago sold for $23.8million and Eric Clapton's third Richter abstract made a strong $22million whereas a smaller Richter abstract went for $5.8million.

John Currin's painting Nice ‘n' Easy , bought for £ 5.4 million in November 2008 set a record for the painter's work at $12million while Andy Warhol's “Statue of Liberty” from 1986, sold for $3,719,500, well over the $ 574,000 it fteched when last sold at Phillips, de Pury & Luxembourg New York in May 2002.

An earlier Warhol's “Self-Portrait” from 1966, featuring the artist thoughtfully posed with fingers touching his chin against a fire-engine red ground, sold for $6,519,500 again way beyond the self-portrait last sold for 1,769,000 at Sotheby's New York in May 2002.

Still, the market appeared rather dull according to some observers who noted there were fewer fine works at the disposal of would-be buyers.

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