Ow Much Does This Art Sold for? Andy Warhol Green Car Crash Gre
Grisly Warhol Painting Fetches $104.v Million, Auction Loftier for Artist
One of Andy Warhol's more powerful and provocative images — a lifeless trunk amidst the gruesome wreckage of a car crash — sold for $104.v million at Sotheby'southward gimmicky art auction on Wednesday dark, making it the highest price ever paid at auction for the Pop artist.
It was the second consecutive night that a classic painting from the 1960s broke the $100 1000000 mark. At Christie's on Tuesday, a triptych by Francis Bacon — "Three Studies of Lucian Freud" — brought $142.4 million. Together they illustrate how today's international superrich are willing to put their money on their walls, and not just in the shakier financial markets or in the banking company.
The Warhol, "Silver Automobile Crash (Double Disaster)," is 1 of only iv double-paneled motorcar crash paintings that Warhol created in 1963, at 35, and the last of its size left in private hands. The three others are in museums, and this one has belonged to celebrated collectors including Gunter Sachs, Charles Saatchi and Thomas Ammann. It was being sold past an unidentified European collector who had endemic it for more than xx years. There were five bidders who went as loftier as $lxxx million, according to Tobias Meyer, the evening'southward auctioneer, who declined to name the winner.
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"Information technology's a great painting," said Peter M. Brant, the newsprint magnate and art collector, after the sale. "It was also a dandy price. And who knows what people will spend for a keen moving picture."
The price for "Argent Car Crash" sailed well past its $threescore million to $eighty million approximate. Even afterwards adjusting for inflation, the price eclipsed the $71.7 million paid in 2007 at Christie's for "Green Car Crash (Green Burning Car I)," a smaller, single-panel painting, also from 1963.
Sotheby'south York Artery salesroom was packed with many of today's high-contour collectors, including Daniel South. Loeb, the hedge fund director and shareholder activist, the Hollywood agent Michael Ovitz, and Don and Mera Rubbell, the Miami collectors. It was the final of three back-to-back evenings in which prices for gimmicky art of all styles and mediums brought strong prices, with bidding from all corners of the world. Sotheby's evening sale totaled $380.6 million, near its high $394 million estimate. Of the 61 works on offering, only seven failed to sell.
(Last prices include the heir-apparent's premium: 25 percentage of the commencement $100,000; xx percent from $100,000 to $2 1000000; and 12 pct of the rest. Estimates do not reflect commissions.)
Steven A. Cohen, the hedge fund billionaire and collector whose company, SAC Majuscule Advisors, pleaded guilty on Friday to insider trading charges in Federal Commune Court in Manhattan, was one of the biggest sellers of the night, departing with nearly $87 million worth of art. (The government has not criminally charged Mr. Cohen.)
Top among his grouping was "A. B. Courbet," an abstract sheet by Gerhard Richter from 1986. Estimated to bring $15 million to $20 meg, it sold to a telephone applicant for $26.iv one thousand thousand. Mr. Cohen had bought the painting at Art Basel in 2012 for around $twenty million. He likewise managed to get $10.9 1000000 for "The Attended," an abstract sheet by Brice Marden from 1996-99 filled with looping colors of red, yellow, light-green and white. It had a $7 million to $x million estimate.
But non all Mr. Cohen'due south works performed too. Warhol's "Liz #ane (Early on Colored Liz)" from 1963, estimated to sell for $20 one thousand thousand to $xxx million, fetched $18 million, or $20.iii 1000000 with fees. And a work by the Italian creative person Maurizio Cattelan failed to sell at all.
All eyes — including several trustees secreted in a skybox above the salesroom — were on a grouping of paintings, drawing and sculptures being sold by the Dia Art Foundation. Information technology was selling a portion of its notable drove to pay for a major acquisition, much to the consternation of many, including its two founders, who said that such a sale was "utterly wrong" and "against Dia's mission." Just on the eve of the auction, the founders withdrew the lawsuit they had filed last week to cake the sale. Dia'due south win — it managed to raise $38.4 million in the Wednesday night sale — was also its loss. Among the artworks sold were several seminal sculptures by John Chamberlain, including "Candy Andy." That 1963 work, fashioned entirely out of sometime motorcar parts, had set the artist on the course of what became his signature method of using mangled fragments of old cars. It had been expected to bring $2 million to $three one thousand thousand; Christopher Eykyn, the New York dealer, bought it for $4.6 million. Also for auction was Barnett Newman'southward "Genesis — The Break," a 1946 abstract sail that brought $three.half dozen million. The audition came alive with bidders when Cy Twombly's "Poems to the Sea," a suite of 24 drawings created in 1959, came on the cake. Although it was expected to sell for $6 1000000 to $8 1000000, a phone bidder snapped it upwards for $21.half dozen million.
"The Warhol, like the Twombly, were connoisseur works of fine art," said Mr. Meyer, the auctioneer. "They are exactly what the market place wants: iconic works of 20th-century art history."
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Source: https://www.nytimes.com/2013/11/14/arts/design/grisly-warhol-painting-fetches-104-5-million-auction-high-for-artist.html
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