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SOTHEBY'S SALE OF CONTEMPORARY ART FARES WELL IN LONDON
29 June 2017
Category : MARKET

Buoyed by 16 guaranteed bids, meaning effective private sales, Sotheby's totaled 62.4 million GBP, level with its high estimate, with 95% of lots sold  mostly under estimates at its contemporary art sale held in London on June 28, 2017.  This amount was up 20 percent from last June, but quite far from the 130 million totals of June 2012 and 2015.


American artists surprisingly dominated the sale with seven of the top 10 selling lots. Keith Haring recorded 944,750 GBP with a day-glo painting, a 1983 Jean-Michel Basquiat triptych on wood was the top lot of the sale selling on the phone near top estimate for 6.5 million GBP, an early Andy Warhol photo booth-style self-portrait from 1963–4 went for 6 million GBP while a collaborative work by Basquiat and Warhol titled Sweet Pungent (1984–5), from the collection of fashion designer Tommy Hilfiger, doubled its estimate at 4,4 million GBP

A Dubuffet oil and collage, Beret Rose (1957), sold above estimate for 2,6 million GBP, a  white punctured Fontana painting rose to 2,2 million and a 1998 painting by Cecily Brown titled "The Girl who had Everything" ( sold at Phillips in 2007 for 533,415 pounds) fetched a record price of 1,9 million GBP. Richard Prince's "School Nurse" (2005) went under estimate for 4,1 million GBP, Gerhard Richter dark abstract "Split" (1989) only realized 4 million while his Stadtbild M6 (1968) which had  remained unsold in 2015 recorded a disappointing 700,000 pounds bid.


Wolfgang Tillman's mon umental c-print titled, Freischwimmer #81 (2005) quadrupled its estimate at 500,750 GBP while Sterling Ruby's eight-foot spray-painting, SP186 (2011), bought at Sotheby's Doha in 2014 for 611,000 dollars, only sold for  248,750 pounds, meaning a heavy loss for its owner.

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