Tobias Meyer, Sotheby’s principal auctioneer, took bids for Clyfford Still’s “1949-A-No..1.” It sold for $61.7 million. Photo: Kirsten Luce for The New York Times
“Despite (or perhaps because of) the stock market’s nearly 400-point plunge, on Wednesday night collectors raced to put their available cash — and lots of it — into art.
Sotheby’s evening sale, the last of the week’s three big-money evening auctions, achieved the company’s third-highest total for a contemporary art sale ever (the highest was in May 2008). It brought record prices for Abstract canvases by Clyfford Still and Gerhard Richter.
“There is a flight out of cash into what is called art,” Richard Feigen, a Manhattan dealer, said after the sale.
The sale totaled $315.8 million, well above its high $270 million estimate. The evening eclipsed Christie’s auction on Tuesday night, where $247.6 million was spent and where Pop Art — works by Lichtenstein and Warhol — reigned. Of the 73 lots for sale at Sotheby’s, 11 went unsold.”
You can read the full article via NY Times here.
You Might Also Like...
On 19 March 2013, Sotheby’s will present the Amaya Collection, the first international Evening Sale of Indian Art and the first single-owner sale in this category to be held at ...
READ MORE
Sotheby’s annual Americana Week auctions will take place in New York on 25 & 26 January 2013. The Important Americana sale will begin at 10:00am on the 25th with a ...
READ MORE
Heritage Auctions experienced its fourth straight year of record sales in 2012: more than $860 million, the highest tally yet for the world's third largest auction house and largest auctioneer ...
READ MORE
Sotheby’s announced that it will offer for sale an extraordinary group of Modern and Contemporary artworks from a Private Swedish Collection. Built by a private Swedish individual from the 1960s ...
READ MORE
In the wake of Sotheby’s third most successful year ever for global auctions of Contemporary Art (2012), which totalled $1.25 billion and saw a new record set for the work ...
READ MORE
Sotheby’s annual Old Masters Week auctions in New York will be held from 29 January to 2 February 2013, offering a wide range of works spanning the 14th to 19th ...
READ MORE
Sotheby’s annual December auctions of Important Judaica and Israeli & International Art brought a combined total of $7,908,754 today in New York, and many first time buyers participated in both ...
READ MORE
Yesterday at Sotheby’s, the sale A Show Of Hands: Photographs from The Collection of Henry Buhl concluded, bringing a total of $12,318,704, exceeding the pre-sale estimate of $8.1/12.2 million*. The ...
READ MORE
Sotheby’s to Offer Amaya Collection of Modern &
Important Americana for Sale at Sotheby’s New York
Heritage Auctions Records Best Year to Date: $860+
Sotheby’s London to Offer Private Swedish Art Collection
Outstanding Artworks by Blue-chip Masters Headline Sotheby’s Auction
Sotheby’s New York Old Masters Week Will be
International art Sale Brings a Combined $7.9 Million
Buhl Collection Brings $12.3M – Record Total for
