Whom You Know: Sotheby's September Contemporary Art Sale in New York Totals Over $12 million

Monday, September 24, 2012

Sotheby's September Contemporary Art Sale in New York Totals Over $12 million

Sotheby’s first Contemporary art sale of the season brought a strong total of $12,277,564, well within the $9.736/13.759 million pre-sale estimate. Highlights of the sale were the 1986 Untitled by Gerhard Richter, which more than doubled the high estimate of $350,000 to realize $842,500, and Window Sketch by Frank Stella which surpassed its high estimate to sell for $578,500.

Erica Barrish, Vice President of Sotheby’s Fine Arts Department, says: “We are thrilled with the results of Friday’s sale with almost 90% of lots selling at or above their pre-sale estimate and with an amazing performance by abstract expressionists. There was great international participation and very active bidding throughout the day. With this sale of Untitled by Richter, Sotheby’s currently holds the top five sales of his works on paper globally, and this work was the second highest result for Richter on paper to date. We had a wonderful result for Mark Grotjahn’s Untitled (Blue Butterfly), and Wade Guyton’s Untitled performed strong, leading up to his October retrospective at the Whitney Museum of American Art. We set a world record for Charline von Heyl with Blue Rider selling for $80,500, four times its high estimate.”

http://www.sothebys.com/en.html

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