{"id":434,"date":"2017-11-20T09:00:12","date_gmt":"2017-11-20T03:30:12","guid":{"rendered":"http:\/\/theasifkamal.com\/blog\/?p=434"},"modified":"2017-11-20T01:12:01","modified_gmt":"2017-11-19T19:42:01","slug":"postwar-contemporary-sale-sotheby-310-2m-bacon-triptych36-8m","status":"publish","type":"post","link":"https:\/\/theasifkamal.com\/blog\/2017\/11\/20\/postwar-contemporary-sale-sotheby-310-2m-bacon-triptych36-8m\/","title":{"rendered":"Postwar and Contemporary Sale: Sotheby= $310.2M, Bacon Triptych=$36.8M"},"content":{"rendered":"

From a low estimate of $250.4 to a high estimate of $343.4 million dollars, the house of New York evening auction hauled over a $310.2million which comprised a sale of 72 lots and an impressive profitability of 95.8%.<\/span><\/p>\n

Francis Bacon\u2019s,\u2019Three Studies of George Dyer\u2019 was a winning lot of the night with $36.8 over a low estimate of $35.<\/span><\/p>\n

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The triptych<\/p><\/div>\n

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After the triptych, there was Andy Warhol\u2019s Mao which got hit at $32.4 over a lower estimate of $30.<\/span><\/p>\n

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The Mao<\/p><\/div>\n

 <\/p>\n

Both of these paintings had never been offered in an auction before and hence face only one bid based upon third- party guarantees co-ordinated by the contemporary art head of the house.<\/span><\/p>\n

Such a sale cannot be compared with the record sale of Leonardo Vinci\u2019s Salvator Mundi. The art-piece got sold out for $450.<\/span><\/p>\n

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Leonardo Vinci\u2019s Salvator Mundi Record auction-$450<\/p><\/div>\n

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Auctioneer Oliver Barker quotes that if the record sale is separated then Christie\u2019s make a sale of worth $338.6 million which is just a bit higher than Sotheby\u2019s, their arch rival.<\/span><\/p>\n

Contemporary Art Head, Gregoire Billault \u00a0mentions Salvator Mundi as a historic sale and marking the right direction for the auction.<\/span><\/p>\n

Compared to last year\u2019s figures of $276.6 million and $319.2million from last May, Sotheby\u2019s have faired well this year.<\/span><\/p>\n

Furthermore, it was the untitled work of Basquiat which had made a difference of $100 million threshold last year, marking it as the most expensive collectibles of its kind, an American has ever sold in it\u2019s lifetime.<\/span><\/p>\n

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Michel Basquiat<\/p><\/div>\n

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Without any close competition with Baquiat\u2019s work, the sale \u00a0got accelerated by an untitled work by Laura Owens.<\/span><\/p>\n

She has got a space assigned to her in the Whitney Museum where all her works shall be available on loan to the collectors right after the auction is over.<\/span><\/p>\n

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Laura Owen<\/p><\/div>\n

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The bid for Owens\u2019 work started from $200M ranging towards $300M and then shooting to a high of $800M which then got braked by Lisa Dennison at $950M. Denisson being the Chairman of Sotheby secured the bid at $1.45 to $1.75 for her client shattering Owens\u2019 record of $336.5M.<\/span><\/p>\n

Lynette Yiadom Boakye\u2019s\u00a0Hours Behind You\u00a0(2011) was yet another record breaking collectible which got sold to James Mackie via Jeffrey Deitch, the dealer for the night.<\/span><\/p>\n

Jeffrey sealed it in for $1.3, adding a premium and moving it to $1.58 which is actually higher than its 4x multiplier range.<\/span><\/p>\n

Coming next was Marlene Dumas\u2019s Magdelena(Underwear and Bedtime Stories) which got sealed in for $3.62.<\/span><\/p>\n

Following Roy Lichtenstein\u2019s Female Head sealed in at $24.5M to Bame Fierro March, a specialist.<\/span><\/p>\n

Then Jean Michel Basquiat\u2019s Cabra was sealed in for $10.9 <\/span><\/p>\n

For the last but not the least, there were a couple of more paintings shuttling for the close. At last Franklin Bacon rose up to a bid of $35M marking the end of a marvelous show of a night.<\/span><\/p>\n

\u2018Bid till the last and give your best. There is always a next time to gain!\u2019 quoted a bidder.<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

From a low estimate of $250.4 to a high estimate of $343.4 million dollars, the house of New York evening auction hauled over a $310.2million which comprised a sale of 72 lots and an impressive profitability of 95.8%.<\/p>\n","protected":false},"author":2,"featured_media":438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[891],"tags":[],"yst_prominent_words":[937,50,29,67,934,940,957,954,953,938,941,946,942,939,936,890,867,935,956,955],"_links":{"self":[{"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/posts\/434"}],"collection":[{"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/comments?post=434"}],"version-history":[{"count":1,"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/posts\/434\/revisions"}],"predecessor-version":[{"id":440,"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/posts\/434\/revisions\/440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/media\/438"}],"wp:attachment":[{"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/media?parent=434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/categories?post=434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/tags?post=434"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/theasifkamal.com\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}