News

The evening auctions of Post-War & Contemporary Art Auction and The Italian Sale held by Christie's on October 14, 2011 in London realized a combined total of £55,630,000 / 87,672,880 / €63,473,83, the second highest total for an October sale in this city.

The top price of the evening was paid for Gerhard Richter's seminal Kerze (Candle) painted in 1982, which after a fierce bidding battle was sold for £10,457,250 / $16,480,626 / €11,931,722, a world record price for the artist at auction.

In all, 10 lots for over £1 million and 20 lots for over $1 million while 9 artist records were set. The corresponding auctions in October 2010 realised a combined total of £38.2 million / $61.2 million / €43.4 million, with 6 lots selling for over £1 million and 18 for over $1 million.

POST-WAR & CONTEMPORARY ART

This evening's Post-War and Contemporary Art Evening Auction realized a total of £38,070,350 / $59,998,872 / €43,438,269 against a pre-sale estimate in the region of £30 million, selling 92% by value and 89% by lot.

Buyer breakdown (by lot) was 49% Europe including the UK, 38% Americas and 13% Asia. 7 lots sold for over £1 million / 12 for over $1 million.

In total, 44% of lots sold above estimate and record prices at auction were established for 7 artists; Ahmad Alsoudani, Joe Bradley, Antony Gormley, Karen Kilimnik, Albert Oehlen and Gerhard Richter.

"This week we saw London become the epicentre of the art world - a trend reflected at this evening's auctions. The global Post-War & Contemporary art team gathered an auction of great quality and worked tirelessly to ensure that buyers from over 15 different countries, including a significant number of Asian collectors, competed for the works on offer. This is best illustrated by Gerhard Richter's ‘Kerze' – an absolute masterpiece that had last been in seen in public in 1986. Coinciding with the artist's Retrospective at Tate Modern, there was a huge interest in this work which represents to me the pinnacle of the series. The opportunity drew 4 or 5 bidders who drove the price to a worthy record of £10.5 million. As well as Richter, we were particularly pleased to establish world record prices for a number of both new and established artists including Ahmed Alsoudani, Antony Gormley, Joe Bradley, Karen Kilimnik, Zhang Dali and Albert Oehlen. This evening the buyers at both auctions were dominated by private collectors who, diligent but confident in the art market, continued to seize the chance to acquire works of art of the best quality and rarity", said Francis Outred, Internationa Director and head of Post-War and contemporary art for Christie's Europe.

Highlights of this evening's sale included:

- Kerze (Candle), an icon of Gerhard Richter's painterly practice and one of the finest examples from the artist‟s series of candle paintings realized between 1982 and 1983 which sold for £10,457,250 / $16,480,626 / €11,931,722, a world record price for the artist at auction and the top price for any work in the Evening Sale.

All five works by Gerhard Richter in the sale achieved a combined total of £13,023,850.

- Great masterpieces of British sculpture were also heavily sought after, notably Antony Gormley's iconic Angel of the North (1996), sold for £3,401,250 / $5,360,370 / €3,880,826, a world record price for the artist at auction.

Executed in 1994, Damien Hirst's Judas Iscariot, an important, early example from the artist's Natural History series and originally part of The Twelve Disciples, in which Hirst re-interprets the Last Supper in his own contemporary vernacular of bulls' heads suspended in formaldehyde tanks, achieved £993,250/ $1,565,362 /€ 1,133,298, twice its estimate.

Man Under Cardigan by Ron Mueck, the consummate observer and flawless imitator of life, sold for £601,250 / $947,570 / €686,026. Executed the year after his meteoric rise to national prominence with the presentation of Dead Dad at Sensation, this work is one of the artist's early and pioneering sculptures.

- Ahmed Alsoudani's Baghdad I (2008) sold for over twice its estimate at £713,250 / $1,124,082, / €813,818, a world record price for the artist at the auction.

- Untitled by Martin Kippenberger (1990) sold for: £1,329,250 / $2,094,898 / €1,516,674, a world record price for a sculpture by the artist at auction.

The Italian Sale achieved £17,559,650 / $27,674,008 / €20,035,561 against a pre-sale estimate in excess of £15 million. It was 78% sold by value and 70% sold by lot.

The top price was paid for Achrome by Piero Manzoni (1958-1959) which sold for £3,289,250 / $5,183,858 / €3,753,034, the 2nd highest price for a work by the artist at auction.

Buyer breakdown (by lot) was 34% Italy, 28% rest of Europe, 34% Americas and 4% Asia. 3 lots sold for over £1 million / 8 for over $1 million.

2 artist records were set during the sale, for works by Domenico Gnoli and Arnaldo Pomodoro.

"We were pleased to see Italian Post-War & Contemporary Art attract an international group of bidders tonight including buyers from 11 different countries. Global interest was raised in particular by artists such as Manzoni and Fontana, as well as by Boetti, Morandi and Gnoli, whose ‘Busto femminile di dorso' set a new record price for the artist at auction, beating the previous one also achieved at a Christie's London sale last June," said Mariolina Bassetti Vice-Chairman of Christie's Italy.

Highlights of the Italian Sale included:

- Achrome (1958-1959) by Piero Manzoni, a rare example of his most celebrated series sold for £4,289,250 / $5,183,858 / €3,753,034 (estimate: £800,000-1,200,000).

- Tutto (1988) by Alighiero Boetti, a vast and detailed embroidered canvas stretching over two and half metres long, one of the largest in the series sold for £1,329,250 / $2,094,898 / €1,516,674, the highest result for a Tutto at auction.

- Natura morta, (1954), by Giorgio Morandi realised £959,650 / $1,512,408 / €1,094,961.

- Busto femminile di dorso (Female Bust from the Back) (1965) by Domenico Gnoli achieved £2,337,250 / $3,683,506 / €2,666,802, over three times it estimate and a world record price for the artist at auction.

- Works by Lucio Fontana were in strong demand with Concetto spaziale, Attese, (1964) selling for £601,250 / $947,570 / €686,026.

POST-WAR & CONTEMPORARY ART

Lot 1 Joe Bradley (b. 1975) Double Runner each: signed, titled and dated 'JOE BRADLEY DOUBLE RUNNER 2006' (on the reverse) Acrylic on canvas mounted on panel, in seven parts overall: 104 x 78in. (264 x 198.1cm.) Painted in 2006 Estimate 25,000 - 35,000 British pounds sold for £79,250 / $124,898 / €90,424 WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Antony Gormley (b. 1950)

Angel of the North (Life-Size Maquette) Cast iron 79 x 210 x 13in. (200.6 x 533.5 x 33cm.) Executed in 1996 Edition 5/5 Estimate 1,500,000 - 2,000,000 British pounds sold for £3,401,250 / $5,360,370 / €3,880,826 WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Gerhard Richter (b. 1932)

signed twice, numbered and dated '513-2 Richter 1982' (on the reverse) Oil on canvas 32¼ x 24 3/8in. (83 x 62cm.) Painted in 1982 Estimate 6,000,000 - 9,000,000 British pounds sold for £10,457,250 / $16,480,626 / €11,931,722 WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Karen Kilimnik (b. 1955)

signed, titled and dated three times 'Prince Albrecht Feb 2 '98 Feb 3 '98 February 13 '98 Karen Kilimnik' (on the reverse) Water soluble oil on canvas 19 7/8 x 16in. (50.5 x 40.5cm.) Painted in 1998 Estimate 200,000 - 300,000 British pounds sold for £337,250 / $531,506 / € 384,802 WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Lot 21 Albert Oehlen (b. 1954)

signed, titled and dated geschmeidig A. Oehlen 99 (on the reverse) Oil on canvas 78¾ x 94¾in. (200 x 240.5cm.) Painted in 1999 Estimate 250,000 - 350,000 British pounds sold For £385,250 / $607,154 / €439,570 WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Ahmed Alsoudani (b. 1975)

each: signed, signed in Arabic and dated twice 'Soudani 08' (on the reverse) Acrylic and charcoal gesso on canvas, in two parts each: 82 7/8 x 72in. (210.5 x 182.9cm.)overall: 82 7/8 x 144in. (210.5 x 365.8cm.) Executed in 2008 Estimate 250,000 - 350,000 British pounds Sod For £713,250 / $1,124,082, / €813,818 WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Zhang Dali (b. 1963)

signed in Pinyin, titled, numbered and dated 'Chinese Offspring 2005 Zhang Dali', and signed and titled in Chinese (on the back of each figure) Resin and fibreglass, in fifteen parts fifteen life-size figures, height ranging from: 50in. (128cm.) to 70in. (178cm.) Executed in 2003-2005 Estimate 80,000 - 120,000 British pounds Sold For £91,250 / $143,810 / €104,116 WORLD RECORD PRICE FOR THE ARTIST AT AUCTION

Lot 86 PROPERTY OF A PRIVATE COLLECTOR Domenico Gnoli (1933-1970) Busto femminile di dorso (Female Bust from the Back) signed, titled and dated 'D. Gnoli "Busto femminile di dorso" 1965' (on the reverse) acrylic and sand on canvas 39 3/8 x 47¼in. (100 x 120cm.) Painted in 1965 Estimate 500,000 - 800,000 British pounds Sold for £2,337,250 / $3,683,506 / €2,666,802 WORLD RECORD PRICE FOR THE ARTIST AT AUCTION