Christie's Post-War and Contemporary Art Week Totals Record $525 Million
- NEW YORK, New York
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- November 18, 2012
Christie’s two-day sales series devoted to the finest in Post-War and Contemporary Art realized a combined total of $508 million. Including the results of the Andy Warhol Foundation for the Visual Arts with three single-artist sales, which realized $17 million on November 12th, the grand total for the week of Post-War and Contemporary Art is $ 525 Million.
Throughout the sales, strong results were achieved for works by Pop artists, Abstract Expressionists, and Cutting-Edge Contemporary artists. Following the historic evening sale which became the most valuable auction ever in the category, at $412.3 million, Christie’s achieved a combined $96 million during the two sessions on Thursday.
“Christie’s sales of Post war and Contemporary art this week in New York showed tremendous strength and energy, with a record combined result of $ 525 million. The incredible response we saw from bidders this week is a testament to the increasing depth and diversity of this collecting category. With our $412 million Evening Sale on Wednesday and our $96 million Day sales on Thursday, we witnessed strong prices for works of art across all mediums and price levels and reached an exciting new threshold for the auction market globally," analyses Brett Gorvy, Chairman and International Head of Post-War and Contemporary Art.
On November 14th, Christie’s Post-War and Contemporary Art sale became the most valuable auction ever in the category, at $412,253,100 (£259,719,453/ €321,557,418). Bidders from around the world convened in the saleroom to compete for the sale’s exceptional roster of works by the top artists of the category, including Andy Warhol, Franz Kline, Jean Michel Basquiat, Mark Rothko, Jeff Koons, and Roy Lichtenstein, among others. Eight new auction records were established, 11 works sold for over $10 million, 16 for over $5 million and 56 for over $1 million. The sale was 93% sold by value and 92% sold by lot.
“This evening’s sale set a new record total for any Post-War and Contemporary Art sale. Over the past six years, Christie’s has led this market first over the $200 million, then over the $300 million, and now over the $400 million barrier,” said Brett Gorvy, Deputy Chairman and International Head of Post-War and Contemporary Art. “We curated the sale around a rich variety of the highest quality works and most coveted artists in order to serve our broad international base of collectors in their quest to find the next iconic work, whether it is Pop Art, Abstract Expressionism, or cutting-edge contemporary.”