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CHRISTIE'S YIELDS 538.9 MILLION USD WITH A WORLD RECORD FOR KOONS
16 May 2019
Category : MARKET


Christie's sale of post-war and Contemporary art sale held on May 15 in New York yielded a total of $538.9 million, against a global estimate of $422 million to $605 million after two lots were withdrawn..

Of the 56 total lots offered, 51 of them, or 91 percent, sold. The private collection of Robert and Beatrice Mayer realized $157 million while works belonging to the late publishing magnate S.I. Newhouse accounted for $115 million of the sale total.

Estimated at $50 million, Robert Rauschenberg's silkscreen painting Buffalo II (1964) rose to 88.5 million inclusive of premium, smashing the artist's previous auction record of $18 million while Jeff Koon's stainless steel Rabbit (1986), estimated at $50 million to $70 million, culminated at a record 91 million, well over his previous mark of 58 million to make him most expensive living artist at the expense of David Hockney.

Estimated between 50 and 70 million, Andy Warhol, Double Elvis [Ferus Type] (1963) only sold for $ 53 million while Louise Bourgeois's Spider (conceived in 1996, cast in 1997), estimated at $25 million to $35 million, sold at $32 million with premium, also a new record for the artist at auction.

Warhol's Little Electric Chair(1964-65) from the Newhouse collection fetched  $7 million, against a presale estimate of $6 million to $8 million, sold for $8.2 million with premium and an early portrait of Liz Taylor from the Mayer collection went for 19.3 million against an estimate of 20 to 30 million while Tom Wesselmann's Great American Nude #26 (1962), reached $2.4 million.

Acquired for 198.000 USD in 1987 at Sotheby's New York, Alexander Calder's hanging mobile with colored glass, Fish (circa 1952), estimated at $12.5 million to $16.5 million sold for $17.5 million with premium.

Richard Prince's Untitled (The Velvets) (2007), a diptych collage sold for $1.1 million with premium and KAW's 2009 “Smurf” painting, Kurfs (Tangle) smashed  its estimate of $600,000 to $800,000, to sell for $2.6 million.

Meanwhile, new records were set for Larry Rivers at 1.2 million, Frank Stella at $28 million, Daniel Buren at 2.1 million and Jonas Wood at 4.9 million.

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