Andy Warhol’s Self-Portraits leads the Record-Setting £138 million ($189 million) auction at Christie’s London.
The Post-War and Contemporary Art Evening auction at Christie’s London featured work by some of the most revered figures in 20th and 21st century art, with Andy Warhol’s seminal pop portraiture and the visceral action painting of Jackson Pollock offered alongside superb pieces from the likes of Francis Bacon, Jean-Michel Basquiat
, Lucio Fontana and Peter Doig
With a realized sale of $189.9 million (£138 million including buyer’s premium), this sale registered the highest total for any auction of Post-War and Contemporary art held in Europe. The top lot was Andy Warhol’s “Six Self Portraits,” which made the equivalent of $31.2 million (£22.6 million including buyer’s premium) alone.
For the art enthusiasts, Blouin Artinfo presents a detailed post auction analysis.
Analytical Insights powered by BASI (Blouin Art Sales Index)
This section includes:
• A Summary of Sales
• Price Estimation Accuracy: What percentage of artworks sold above high estimates, between low and the high estimates, and below low estimates?
• Top Artworks Sold — Their Hammer Prices and Price Estimates.
• Unsold Lots
A Summary of Sales:
On an average, artworks were sold for 1.32 times the estimated low price. 8 percent (5 artworks) were bought-ins.
• Sale Total: (£137.9 million including buyer’s premium)
• Sale Volume: 60 Artworks
• # of Artists (Sold): 49
Price Estimation Accuracy:
What percentage of artworks sold above high estimates, between low and the high estimates, and below low estimates?
• About 30 percent (18) artworks sold above the high estimate.
• There were a significant number of artworks (27 percent) that sold below the low estimate.
• The rest, 43.3 percent artworks sold between the low and high estimates.
Top Artworks Sold — Hammer Prices and Price Estimates.
Andy Warhol’s “Six Self Portraits” was the top lot of this sale at £22.6 million. The auction house did not provide the estimated sale price for this lot. The other top-selling lots were Basquiat’s “Multiflavors” at £12 million, Peter Doig’s “Charley’s Space” at £10.9 million and Bacon’s “Three Studies For a Portrait” at £10.01 million. The above graph shows the estimated low price of the top lots and their hammer prices.
The lots that sold between £1 million and £5 million are shown in the above graph. Most of the lots in this segment sold for above their estimated low prices. This list includes works of Louise Bourgeois, Gerhard Richter, Mark Bradford, David Hockney and others. On an average, the lots sold for 1.5 to 3 times their estimated low prices.
Andy Warhol’s “Birth of Venus (After Botticelli)” that was expected to sell for between £4.5 and £6.5 million remained unsold. There were four other artworks by Josef Albers, Cecily Brown, Lynette Yiadom-Boakye and Paul Thek that remained as bought-ins in this sale.