Christie's Sale Shatters Records for Post-war Masters

  • May 09, 2012 00:02

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Mark Rothko's Orange, Red, Yellow brought an auction record $86,882,500 at Christie's.
Christie's

Works by modern art giants from Rothko and Pollock to Calder and Klein sparked furious bidding at Christie's on Tuesday. A number of record-breaking prices sent the Post-war and contemporary art sale to $388.5 million, the highest total ever for the category, with 59 offered lots.

From the estate of David Pincus, Mark Rothko's Orange, Red, Yellow of 1961 blazed to $86.9 million (estimate:$35,000,000 - $45,000,000), an artist auction record and a record for post-war art. The previous record for the Abstract Expressionist was $72 million set in 2007 at Sotheby's.

Alexander Calder mobiles went well beyond estimates. Notably, his Snow Flurry, with a low estimate of $3.5 million, garnered $10.3 million. His 1945 “Lily of Force,” estimated to sell for $8 million to $12 million, brought an artist auction record of $18.5 million.

Calder's previous record price was $6.3 million for Red Curlicue, a giant metal sculpture sold by Christie's in 2010.

Jackson Pollock's Number 28, 1951 fell right within estimate at $23 million, still fetching an auction record for the Abstract Expressionist.

Records were also set for Barnett Newman ($22.4 million) and Yves Klein ($36.4 million).

Star lots from the collection of Evelyn D. Haas included a vibrant abstract oil by Richard Diebenkorn titled Berkeley #59 that fetched $6.2 million, just above its high estimate.

Contemporary art performed well, too. Sherrie Levine's  (b. 1947) Fountain (After Marcel Duchamp) soared to $962,500 from low estimate of $250,000.

Showing that the market is not yet over-saturated, a Gerhard Richter once again went well above estimate to bring $21 million for Abstraktes Bild (798-3).

Alexander Calder's Snow Flurry fetched an auction record price of $10,386,500.
Christie's

Only three works were overlooked by bidders, including Basquait's Museum Security (Broadway Meltdown), estimated at $9-12 million.

(Sale prices include buyer's premium.)


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