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362.6 MILLION USD FOR SOTHEBY'S SALE OF CONTEMPORARY ART IN N.Y
15 November 2018
Category : MARKET

Sotheby's realized a total of 362.6 million USD with 97% of lots sold  for its Contemporary art sale held in New York on November 14 though only seven works sold for more than 10 million but this total eclipsed that of last year by 52.2 million.

 

Four world records were set for Jacob Lawrence, Henry Taylor, Jack Whitten and Dana Schulz during that sale while eleven works from the Teiger collection totaled 48.5 million. Peter Doig's « House of Pictures » (2000/2002) went just under its estimate at 7.8 million USD while Willem de Kooning « Untitled » (1987) reached a bid of 9.3 million, almost doubling the price it fetched at Christie's in November 2010.

 

Dana Schulz's monumental female figure « Her Arms » sold for a record 795,000 dollars, 4 times above its estimate, Gerhard Richter's diptych Abstraktes Bild (1987) went for 32 million while the cover of the sale, Jean-Michel Basquiat's « Untitled » (Pollo Frito) sold for 25.7 million, though under its estimate.

 

Gerhard Richter's « Schwefel » (Sulphur) fetched 10.8 million, under its 12 million low estimate, Jasper John's « Flag » (1994) sold for 12.7million, again under its low estimate of 12 million and Christopher Wool's « Feet Don't fail me now », a black and white flower canvas was hammered at 7.6 million, short of 400,000 dollars of its estimate while his other work « FUCKEM » (1992) recorded a bid of 6.5 million, above Its low estimate.

 

With an estimate of 2 million, Lawrence's « The Businessmen » was pushed at a record price of 6.2 million USD while Taylor's « I'll Put A Spell On you » fetched a record setting price of  975,000 dollars, almost tripling his previous mark of 362,865 dollars while Whitten's « Ancien Mentor » almost doubled Its 1.2 million high estimate at 2.2 million all three setting a new trend for artists of African American heritage.

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