News

Christie's sales of Post-War and Contemporary art held on May 8 and 9, 2012 in New York totalled 465,315 million USD, the best-ever result recorded at auction in two days.

After the May 8 evening sale which totalled 388,488 million USD, Christie's presented in their two other sales held on May 9 a dynamic, high-quality mix of artists, styles and movements that was met with vigorous bidding from clients around the world with 88% of lots sold in their morning sale and 89% in the afternoon.

Great prices were achieved  for  modern masters  such  as  Andy  Warhol, Cy  Twombly  and  Wayne  Thiebaud, and  the  appetite  for  mobiles, standing  mobiles,  stabiles,  work  on  paper  and  jewels  by  Alexander  Calder  was  apparent,  with  all  the  lots  more  than doubling  their  pre-sale  estimates. The  Pincus  Collection,  which  has  already  set  a  new  auction  record  for  the  most valuable contemporary collection on May 8, brought in an additional $5 million, with 25 lots including sculptures by de Kooning, a mural study by Robert Motherwell and photographs by Nan Goldin and Andres Serrano.

There were also some exceptional prices in the afternoon session for Damien Hirst, Richard Prince and Cecily Brown, among others.

Among  the  trends  that  emerged  was  a  strong  demand  for  photographs,  with eight works by Cindy Sherman from the late 1970 to 2004 all sold above estimate. Seven world auction records have been achieved for works by Louise Lawler at $542,500 (lot 428), Jack Goldstein at $422,500 (lot  436),  Enoc  Perez  at  $362,500  (lot  413),  Joe  Bradley  at  $194,500  (lot  409),  David Wojnarowicz  at $122,500 (lot 514), Rajhaad Newsome at $50,000 (lot 420) and Ann Craven at 27,500 (lot 558).

Post-War and Contemporary Art Morning Session New York – Wednesday, May 9, 2012

Sale no: 2558 – Top Ten[All sold prices include buyer's premium]

Sold:  $47,162,025  £29,240,456  €36,314,759

Alexander Calder (1898-1976) The Yellow Loop, executed in 1961  Estimate

900,000-1,200,000 USD: $2,322,500 ,£1,009,422 ,€1,788,325

Alexander Calder (1898-1976) Horizontal with Pendants, executed in 1961  Estimate:500,000-800,000 USD:$1,628,100 ,£1,009,422 ,€1,253,637

Cy Twombly (1928-2011)  Untitled (Roman Note 15) executed in 1970 . Estimate:600,000-800,000 USD:$1,482,500 ,,£919,150 €1,141,525

Frank Stella (B.1936) Mantenela I, painted in 1968 . Estimate:500,000-700,000 USD:$1,482,500 ,£919,150 ,€1,141,525

Jasper Johns (B.1930) Untitled, 1983 . Estimate:600,000-800,000 USD:$1,482,500 ,,£919,150 €1,141,525

Joan Mitchell (1925-1992) Allo, Amélie, painted in 1973 Estimate:1,200,000-1,800,000 USD:$1,314,500 ,£814,990 ,€1,012,165

Andy Warhol (1928-1987) Flowers, painted in 1964 . Estimate:800,000-1,200,000 USD:$1,202,500 ,£745,550 ,€925,925

David Park (1911-1960) Two Heads, painted in 1959 . Estimate:600,000-800,000 USD:$1,022,500 ,£633,950 ,€787,325

Gerhard Richter (B.1932) Abtraktes Bild, painted in 1994 Estimate:800,000-1,200,000 USD:$1,022,500 ,,£633,950 €787,325

Robert Indiana (B.1928) Love . Estimate:800,000-1,200,000 USD:$962,500 USD,£596,750 ,€741,125

Afternoon Session New York – Wednesday, May 9, 2012 Sale no: 2559 – Top Ten

[All sold prices include buyer's premium] Sold:   $29,665,275  £18,392,471  €22,842,262

Cecily Brown (B. 1969) Berserkers (2), painted in 2004 Estimate:500,000-800,000 USD:$842,500 ,£522,350 ,€648,625

Damien Hirst (b. 1965) Au–195m, painted in 2008 . Estimate:700,000-1,000,000 USD: $842,500 ,,£522,350 €648,625

Richard Prince (B. 1949) What A Kid I Was, executed in 1988 . Estimate:600,000-800,000 USD: $812,500 ,,£503,750 €625,625

Keith Haring (1958-1990) Untitled, painted in 1985 . Estimate:300,000-500,000 USD: $782,500 ,£485,150 ,€602,525

Cindy Sherman (B. 1954) Untitled (#94), 1981 Estimate:300,000-500,000 USD:$722,500 ,£447,950 ,€556,325

Richard Prince (B. 1949) When I Was Ten, painted in 1988 Estimate::350,000-450,000 US: $662,500 ,,£410,750 €510,125

Damien Hirst (B. 1962) Eternal Life, executed in 2006 Estimate:550,000-750,000 USD:,$662,500 ,£410,750 €510,125

Jean-Michel Basquiat (1960-1988) Untitled, executed in 1982 Estimate:600,000-800,000 USD:$662,500 ,£410,750 ,€510,125

Cindy Sherman (B. 1954) Untitled Film Still (#41), 1978 Estimate:200,000-300,000 USD:$626,500 ,,£388,430 €482,405