AO Auction Results: London – Sotheby’s Contemporary Evening Sale the second most successful contemporary auction ever held at Sotheby’s, London
Thursday, February 11th, 2010
Untitled XIV, Willem de Kooning. Estimate: £2-3 million Price Realized: £4 million
Sotheby’s auction house worked its magic again last night at their London contemporary art evening sale that totaled £54.1 million – three times the total of the equivalent sale last year and comfortably higher than its pre-sale estimate of £32.2 – 45.1 million. Of the 77 lots on offer, fifteen sold for over a million pounds and only three failed to sell. Measured in financial numbers, this is the second most successful contemporary auction ever held at Sotheby’s. 21 new artist records were set, a large number but slightly dicieving given that nineteen of these were realized by Zero Group-era artists, many of whom have never appeared in the big evening auctions. Discussing the results, Cheyenne Westphal, Sotheby’s Chairman of Contemporary Art Europe, said: “The outstanding sell-through rates, depth of bidding across the sale – particularly for Lenz – and strong prices we achieved this evening are a clear sign of renewed confidence in this market and build on the positive and strong results of our New York sale in November.
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