The stellar sale of The Michael Crichton Collection of contemporary art held by Christie's on May 11, 2010 saw Jasper Johns' Flag, 1960-1966 breaking the world record for the artist selling at $28,642,500.
Throughout the evening, buyers proved their continued commitment to this collecting field. They showed particular interest in iconic American works from both blue-chip artists as well as younger talent. The Post War & Contemporary Art sale realized $231,907,000 (£157,696,760 /€183,206,530) and sold 94% by lot and 98% by value.
The evening sale portions of the late author's collection totaled $93,323,500 (£63,459,980/ €73,725,565). The session was a "white glove" sale with sell through rates of 100% by lot and by value. It became the most significant collection of contemporary art ever sold. Additional works of the collection will be offered in Christie's Post-War & Contemporary Day sale on May 12.
"Within five minutes of opening the rooms for the stunning pre-sale exhibition of the Crichton Collection, we were packed. There was a sense of anticipation," said Brett Gorvy, International Co-Head of Post-War and Contemporary Art at Christie's. "The sale tonight reaffirms the continued confidence in the art market," he continued. "This is the most significant Post-War & Contemporary Art collection ever sold at auction. It was a quintessential American sale," said Amy Cappellazzo, International Co-Head of Post-War and Contemporary Art.
The sale was led by Jasper Johns Flag, which set a new auction record of $28,642,500 (₤19,476,900/€22,627,575). The winning bidder was an American dealer. Completed by Johns in 1966, the work, executed in encaustic, was purchased by Crichton over thirty years ago from the artist's own collection. The previous record for a Johns' work was for Figure 4, 1959, sold at Christie's in May 2005 for $17.4 million.
Further highlights from Crichton included Ed Ruscha's Voltage, 1964 that sold for $1,650,500 (₤1,122,340/ €1,308,895) (estimate $700,000-$1 million), Robert Rauschenberg's Studio Painting, 1960-1961, which went for $11,058,500 (₤7,519,780/€8,736,215) (estimate $5 million-$7 million) and Mark Tansey's Push/Pull, 2003, which set a new record for the artist selling at $3,218,500 (₤2,188,580/ €2,542,615) (estimate $800,000-$1.2 million). The previous record for a Tansey was $3,040,000.
Highlights in the Post War & Contemporary various owner sale included Sam Francis' Middle Blue, 1957, a world record for the artist selling for $6,354,500 (£4,321,060/€5,020,055) (estimate $3 million-$5 million). The past record for Francis was $5,193,000. Jean-Michel Basquiat Self Portrait as a Heel, sold at $5,986,500 (£4,016,420/€4,666,135) (estimate: $4-6 million), while Christopher Wool's Blue Fool, 1990, sold for $5,010,500 (£3,407,140/€3,958,295) (estimate $1.5- $2 million) a world record for Wool, whose previous highest price was $1,874,500. It is a quintessential example of the American artist's celebrated word paintings, and at 108" tall, is one of the artist's largest.
Prices for female artists were strong. Lee Bontecou's, Untitled, 1962, went for $1,874,500 (£1,274,660/€1,480,855) (estimate $1.5-$2 million) a world record for the artist whose highest price was previously $847,500. It features gaping orifices of steel and canvas pulled and stitched like skin evoking both industrial technology as well as metaphors for the body. Yayoi Kusama's No. G.A.White fetched $3,330,500 (£2,264,740/€2,631,095) (estimate $1 million-$1.5 million).
European art was led by Yves Klein's ANT 93, Le Buffle, 1960-61 ("The Buffalo"), which sold for $12,402,500 (£8,433,700/€9,797,975) (estimate $8 million-$12 million) and is considered amonumental work from the artist's celebrated Anthropométrie series. Painted in the signature 'International Klein Blue', Klein created the series by orchestrating the movement of curvaceous women as they writhed on the surface of the picture coated in his signature blue paint, using the female form as the paintbrush.
At the sale, 51 lots sold for over $1 million, 13 for over $5 million, 5 lots for more than $10 million.73% percent of buyers came from the U.S., 16% came from Europe and 1% came from Asia and 10% elsewhere.
Post-War and Contemporary Art
and Works From The Collection of Michael Crichton
New York – Tuesday, May 11, 2010Sale nos: 2406 and 2314 – Combined Top Ten
[All sold prices include buyer's premium]
Sold:
$231,907,000
£157,696,760
€183,206,530
Lots Sold: 74
Lots Offered: 79
Sold by Lot: 94%
Sold by $: 98%
Exchange Rate: £.68 = $/€ .79= $
Lot
Description
Estimate ($)
Purchase Price
Buyer
7
Jasper Johns, Flag, encaustic and printed paper collage on paper laid down on canvas,Painted in 1960-1966
WORLD AUCTION RECORD FOR THE ARTIST
10,000,000-15,000,000
$28,642,500
£19,476,900
€22,627,575
Avery Galleries
45
Andy Warhol, Silver Liz,spray enamel, synthetic polymer and silkscreen inks on linen,Painted in 1963
10,000,000-15,000,000
$18,338,500
£12,470,180
€14,487,415
U.S. Trade
35
Yves Klein, Anthropométrie "Le Buffle" (ANT 93),pigment and resin on paper laid down on canvas,Executed in 1960-1961
8,000,000-12,000,000
$12,402,500
£8,433,700
€9,797,975
Anonymous
24
Robert Rauschenberg, Studio Painting, oil, charcoal, printed paper and fabric collage on canvas with metal, twine, sewn and stuffed fabric, Executed in 1960-1961
6,000,000-9,000,000
$11,058,500
£7,519,780
€8,736,215
Anonymous
32
Roy Lichtenstein, Untitled Composition,oil and magna on canvas,Painted in 1978
4,500,000-6,500,000
$10,162,500
£6,910,500
€8,028,375
U.S. Trade
13
Pablo Picasso, Femme et fillettes,oil on canvas,Painted on April 20, 1961
5,500,000-7,500,000
$6,578,500
£4,473,380
€5,197,015
U.S. Private
38
Sam Francis, Middle Blue,oil on canvas,Painted in 1957
WORLD AUCTION RECORD FOR THE ARTIST
3,000,000-5,000,000
$6,354,500
£4,321,060
€5,020,055
John Berggruen Gallery
9
Robert Rauschenberg, Trapeze,oil and silkscreen inks on canvas, in two parts,Painted in 1964
5,000,000-7,000,000
$6,354,500
£4,321,060
€5,020,055
Gagosian Gallery Inc
60
Jean-Michel Basquiat, Self Portrait as a Heel,acrylic and oilstick on canvas,Painted in 1982
4,000,000-6,000,000
$5,986,500
£4,016,420
€4,666,135
Anonymous
42
Andy Warhol, Self Portrait,synthetic polymer, metallic paint and silkscreen inks on canvas,Painted in 1964
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