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Christie's $388.5 Million Post-War and Contemporary Art Auction

May. 9th, 2012 | Comments 1 | Make a Comment   
Photo Courtesy of Christie's/Yves Klein
It is a rare week when there is no new world records being reported on in the public-sale industry. This week’s auction-adventure tale stems from Christie’s Post-War and Contemporary Art Evening Sale last night, in New York City, that resulted in total sales for the event of $388,488,000.

Art by Mark Rothko, Gerhard Richter, Jackson Pollock, Alexander Calder, Yves Klein, Richard Diebenkorn, Barnett Newman, and Willem de Kooning, were bid on in the saleroom. Fourteen new records were set by the conclusion of the evening. The brisk sales activity of the auction resulted in 99 percent sold by value and 95 percent sold by lot. (Photo: Jackson Pollock, Number 28, 1951)

Brett Gorvy, chairman and international head of Post-War and Contemporary Art, indicated that three major records were set within hours: the total sales for any Post-War and Contemporary art sale, a record for any private collection of Post-War and Contemporary Art at $174.9 million for the Pincus Collection, and a new record for the most expensive work of the period, with Rothko’s Orange, Red, Yellow, which sold for $86.9 million. (Photo: Mark Rothko, Orange, Red, Yellow)

“This was truly a season of icons, with the best works by Rothko, Newman, Richter, Pollock, Calder and Klein to come to market in many years. To see so many major records established in one evening was a tribute to the exceptional works on offer this season,” said Brett Gorvy. For more details on last night’s auction, visit Christies.com. (Photo: Alexander Calder, Snow Flurry)
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1 Comments on this Article

Michael Surguladze commented on May 30, 2012

Further evidence that art is a sound financial investment

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