Highlights and Downfalls @ Sotheby’s Contemporary Art Auction Evening Results May 14, 2013

942N08991_XXXXX.jpg.thumb.385.385

Last night, some GREATNESS went down at Sotheby’s in NYC. For starters, Barnett Newman’s Onement VI (above) sold not only over the high estimate, but sold over the artists’s highest record at auction for his painting for 43,845,000 USD  (Hammer Price with Buyer’s Premium). 

428N08991_XXXXX.jpg.thumb.385.385

Gerhard Richter’s Domplatz (above) did not break the high estimate but still took in a hefty 37,125,000 USD. Not too shabby, Richter.

418N08991_6w2nt.jpg.thumb.385.385

Francis Bacon’s Study for a portrait of his lover did not sell. And I am not shocked – I even predicted this myself. Last time Bacon paintings were at auction with Sotheby’s (this year) they did not sell either. Perhaps this indicates people do not want to look at twisted psychological portraits of others… But I still respect Bacon. Maybe in a few years his work’s will pick back up in the auction world.

Well, while Sotheby’s was hoping to bring in close to 400 million with this auction, they barely made it to 300 million. But hey, that’s the art market. You never know what to expect. For the rest of the results check them out here. It is shocking to see Warhol, Basquiat, and even Rothko not selling. WHO DOESN’T WANT A WORK FROM ONE OF THESE FABULOUSSSSSS MEN? This is not to say the market is not in favour of them, for if anything, I believe these men, especially Basquiat currently is being highly sought after.

So right now all we have are these results. Until ze next auction!

And mazel to those who purchased some EXTRAORDINARY art.

Catch you later kids.

XX, DP

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s