Whom You Know: Sotheby's Contemporary Art Evening Auction Totals $266.6 million

Thursday, May 10, 2012

Sotheby's Contemporary Art Evening Auction Totals $266.6 million

Tonight at Sotheby’s, the Contemporary Art Evening Sale brought a strong total of $266,591,000, well within the $216/304 million pre-sale estimate and with 81% of lots sold. Numerous artist records were set including for Roy Lichtenstein, Cy Twombly, and a number of living artists.

Tobias Meyer, this evening’s auctioneer and Sotheby’s Worldwide Head of Contemporary Art, said: “We are thrilled with tonight’s total of $266 million, and especially with the results achieved for our top four lots, which set a record for Roy Lichtenstein, for a single panel by Francis Bacon, one of the strongest prices for Andy Warhol in some time, and a record for Cy Twombly. The top end of the market performed beautifully this evening due to a global demand for masterpieces that is almost unparalleled and we saw a remarkable depth of bidding between $30-40 million.”

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