POST-WAR AND CONTEMPORARY ART EVENING SALE ACHIEVES
US$495 MILLION, THE HIGHEST TOTAL IN AUCTION HISTORY
The auction set 16 new artist records with three works achieving above US$40M, nine above US$10M and 59 above US$1M
New York - On May 15, Christie's Post-War and Contemporary Art evening sale achieved a staggering US$495,021,500, with a remarkably strong sell-through rate of 94 percent by value and by lot. Bidders from around the world competed for an exceptional array of Abstract Expressionist, Pop and Contemporary works from some of the century's most inspiring and influential artists, including Jackson Pollock, Roy Lichtenstein and Jean-Michel Basquiat. The sale featured a range of superlative works from distinguished private collections and institutions, such as the Collection of Celeste and Armand Bartos and the Estate of Andy Williams.
The sale established 16 new world auction records, selling nine works for over US$10 million, 23 for over $5 million and 59 for over US$1 million. The Christie's sale smashed Sotheby’s sale of contemporary art on Tuesday night, which brought $293.6 million.
"We are thrilled to announce an extraordinary total of $495 million for this evening's sale of Post-War and Contemporary Art - the highest total in auction history. The remarkable bidding and record prices set reflect a new era in the art market, wherein seasoned collectors and new bidders compete at the highest level within a global market. Our sale was heavily focused on masterpieces and collections, achieving an astonishing 16 record prices. With Monday's blockbuster charity sale, The 11th Hour Auction, our sales total exceeds a half a billion, raising $528.3 million," said Brett Gorvy, Chairman and International Head of Post-War and Contemporary Art.
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