AO Auction Results – London: Sotheby’s Oct. 15th Contemporary Art & 20th C Italian Art Bring In Combined Total of 30.4 million GBPOctober 15th, 2010
Andy Warhol, Diamond Dust Shoes, 1980 (est. 1.3 -1.6 million GBP, realized 1,553,250 GBP), via Sothebys.com
Sotheby’s Contemporary Art Evening Auction in London today brought in 13.3 million GBP against a low presale estimate of just under 10 million GBP. Of the 39 lots offered for sale, 4 were bought in, 15 lots sold above their high presale estimates, and 2 works sold for under their low presale estimates. Andy Warhol‘s Diamond Dust Shoes, never before seen at auction, realized 1,553,250 GBP against a high estimate of 1.6 million GBP and was the highest earning lot of the night.
more images and story after the jump…
The 20th Century Italian Art Auction, also at Sotheby’s London on Friday, was the bigger of the evening’s auctions. The 31 lot sale brought in just over 17 million GBP.
The top five lots all sold for over 1 million GBP. They include two works by Lucio Fontana which each sold for 2,281,250 GBP. The Sotheby’s sale did not, however, trump the earnings of the equivalent Christie’s sale yesterday. The Italian Sale at Christie’s London brought in £18,627,650 against a high presale estimate of £20,188,000.
At the Contemporary Art Evening auction, Andreas Gursky’s Pyongyang IV, one of an edition of seven, was the second highest earning lot, bringing in 1,329,250 GBP against a high presale estimate of 700,000 GBP. This sale did not break the record for a Gursky at auction, which was set in 2007 at Sotheby’s when 99 cent II (diptych) was sold for 1.7 million GBP.
Frank Auerbach‘s portrait took third place and sold for 1,071,650 GBP, exceeding its high presale estimate of 900,000 GBP.
Two artist records were set at the sale. Ged Quinn‘s Jonestown Radio sold for 289,250 GBP, easily surpassing the previous record for the artist which was set last night at Christie’s London with the sale of The Saints Go Marching to All the Popular Tunes for 109,250 GBP.
An untitled work by Ahmend Alsoudani was the first work of the artist ever offered at auction. It sold for 289,250 GBP against a high presale estimate of 90,000 GBP.
Two works by Lucian Freud, both from the collection of Jerry Hall, model and ex-wife of Mick Jagger, sold above high presale estimates. A portrait of the model eight months pregnant sold for 601,250 GBP against a high presale estimate of 400,000. A still life, Quinces, sold for 313,250 GBP against presale estimates of 150,000-200,000 GBP.
Andy Warhol’s Oxidation Painting was one of four unsold lots at the Contemporary auction. A portrait of Jerry Hall by Francesco Clemente that carried a presale estimate of 100,000-150,000 GB also went unsold. One work by Gilbert & George and a George Baselitz were bought in as well.
The Contemporary Art auctions this week in London met expectations and each had record making sales. The market shows signs of strength, and next all eyes will be turned to New York for the November auctions. The equivalent New York sales at Phillips de Pury, Sotheby’s, and Christie’s will take place between the 7th and 10th of November and follow Impressionist and Modern sales at Sotheby’s and Christie’s in New York the previous week. Check back for coverage and on-site reporting of these auctions.
Sotheby’s Results [Sotheby's]
Naked Jerry Hall Painting, WArhol Boost $21.3 Million Auction [Businessweek]
Sotheby’s October Evening Sales of 20th Century Italian Art and Contemporary Art Total $48.8 Million [ArtDaily]
Part One of Jerry Hall’s Art Collection Sells For Exceptional Sum of £2.3 Million [ArtDaily]