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93 MILLION GBP FOR SOTHEBY'S SALE OF CONTEMPORARY ART IN LONDON
01 July 2014
Catégorie : MARKET

A rare triptych picturing Francis Bacon's lover George Dyer sold for £26.7 million at Sotheby's on June 30, 2014 during a contemporary art evening auction which also set new world records for Peter Doig and Adrian Ghenie.

 

The sale totalled £93,147,500, well over its £68 million presale estimate and even last year's total results of £75,778,500 (which included 10 more lots)  86.4 percent lots sold and 95.6 percent by value.

 

Eight lots did not sell, including pieces by Jeff Wall, Anish Kapoor and Cy Twombly while a majority of the other lots stayed within estimates.

 

Sotheby's thought it would sell Doig's Country-rock (wing-mirror)at over 9 million GBP but the work went only for 7,5 million, still enough to establish a new World record beating the $11,925,000 paid for Road House (1991) at Christie's New York last May.

 

Bacon's Three Studies for Portrait of George Dyer sold for  23,750,000 GBP, well above its high estimate of £20 million but far away from the 142 million USD fetched at Christie's last November or the 42 million GBP recorded by the same group last February for his Portrait of George Dyer Talking

 

After becoming one of the Bacon's lovers, Dyer was his favourite model even after he killed himself the night before the opening of the artist's Grand Palais retrospective in Paris in1972. 

 

Representing Peter Lacy, another nude lover, Bacon's Study for Portrait of P.L., No. 1 (1957) sold for  4,450,00 GBP. It was last seen at auction in 1987, where it was bought for $858,000 (equivalent to today's $1,732,444.86). 

 

A new record was set for British artist Frank Auerbach with his Primrose Hill (1968) selling for 2,322,500 GBP. It had been sold for a mere 274,050 GBP at Christies in 2003.

The most surprising result was for Adrian Ghenie, the Romanian painter based in Cluj whose 2010 painting titled The Fake Rothko went for 1,426,000 GBP against a high estimate of 350,000.

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