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Willem de Kooning’s ‘Woman’ via Christie’s sold for $3.7 million, more than doubling its high estimate of $1.8 million.

Again, Christie’s bested Sotheby’s in this week’s Post-War and Contemporary Art auctions after Sotheby’s failed to meet its low estimate, covered here by AO.  Last night’s sale in New York resulted in a total of $93.7 million, falling within the higher end of the pre-sale estimates of $71-104 million. Only 5 of the 54 lots went unsold, with 30 selling for more than $1 million.  After a night of lively bidding, Christie’s co-head of post-war and contemporary art, Amy Cappellazzo joked that, “It felt like a year ago.” Last year’s sale brought in $348.2 million, with a number of works selling in the double digits. This year, estimates were far more conservative for the chastened market, with the highest-selling lot, David Hockney’s ‘Beverly Hills Housewife,’ going for $7.9 million, setting a new record for the artist. The portrait of the late Betty Freeman was one of 20 in the sale coming out of the Betty Freeman Collection, another factor contributing to last night’s success.

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David Hockney’s ‘Beverly Hills Housewife’ via Christie’s sold for $7.9 million, falling within estimates of $6-10 million and setting a new record at auction for the artist.

New World Auction Records set for Hockney, Oldenburg, Wheeler, and Smith at Christie’s [Artdaily]
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At an Upbeat Christie’s Auction, Some Record Prices [NY Times]
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NY auctions end with solid contemporary art result [Reuters]
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Christie’s Auction Beats Estimate, Boosts Confidence [Bloomberg]
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Betty Freeman Portrait Fetches $7.9 Million in N.Y. Auction [Bloomberg]
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Christie’s Contemporary “Gets It Right” [Artinfo]
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Christie’s Auction Rekindles Art Optimism [WSJ]

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