Christie’s Contemporary Art Sale is a success and brings in $80.4 million

The Post-War and Contemporary Evening Sale at Christie’s was a big art deal of the week. After a week-long auction in Freize, the new set of artworks fetched Christie’s £65.2 million ($80.4 million). While the 41 coins sold this year brought in less money than last year’s 45 coins (which brought in a collective $109.5 million), it was still a great sale at a time when the market is slow. A range of artists saw their works fetch good prices, and the overall sell-out rate was 87%.

The biggest name in the sale was Jean-Michel Basquiat and his work four big. The painting, which was created on three attached canvases, sold for £8.6million ($10.6million), falling within the expected sales range of £7.5-9.5million of pounds sterling. As usual, an additional buyer’s premium was paid for this. However, Basquiat seems to be all the rage these days, having already sold his PYRO at Sotheby’s sale for a whopping $12.2 million.

Unlike the Sotheby’s sale (which brought in $67.3 million), there were no star sales of the evening. However, there have been a string of strong sales for many artists. The work of Sigmar Polke in 1967 Alpenveilchen/Flowers was sold at $6.97 (though barely touching its lower pre-sale estimate). Another German work, Adler (Eagle) by Georg Baselitz, sold for $3.56 million (slightly more than the highest estimate given to him). The evening seemed to have been dominated by the Germans, as another artist from the country saw two of his works doing good business. brautpaar (blue) was sold for $3.13 million while another abstract painting was sold for $8.64 million.

All in all, it was a good evening for Christie’s. At the end of the night, there were only 6 pieces left unsold. Now all eyes are on the FIAC fair in Paris in 10 days which may be the biggest artistic event of this month.

Back To Top