Posted on 05/11/2005 7:12:34 PM PDT by Liz
NEW YORK (Reuters) - Contemporary and post-war art sold respectably if not spectacularly at Sotheby's on Tuesday led by "Liz," Andy Warhol's portrait of actress Elizabeth Taylor, which fetched $12,616,000.
The vibrant Warhol silkscreen from 1963 was easily the top lot of the auction which took in just over $68 million, or $5 million above the low pre-sale estimate.
Sixty lots of the 73 on offer found buyers and records were set for 10 artists. They included Chuck Close whose large-scale portrait "John" sold for $4,832,000 including Sotheby's commission. The work easily eclipsed the old mark of $2.8 million but fell short of its $5 million low estimate.
While the salesroom was packed, the auction was not characterized by the kind of dramatic bidding seen at recent contemporary and post-war sales at Sotheby's and rival Christie's.
Sotheby's officials said afterward they had "a wonderful sale" with "incredibly strong" results.
Tobias Meyer, Sotheby's head of contemporary art and the evening's auctioneer, noted that Warhol's $9 million to $12 million estimate had been considered aggressive. But he said the figure was "completely justified in the market" as bidders drove the price above $12 million. The buyer was English collector Laurence Graff, a London-based jeweler.
Strong prices were also achieved by a group of Roy Lichtenstein works being sold by the estate of slain designer Gianni Versace. Led by "Blue Nude, which soared to $5,280,000, the five works took in some $8.5 million.
Other expected highlights did not fare as well. Willem de Kooning's large-scale sculpture "Seated woman," with a low estimate of $2.5 million, failed to sell. And Warhol's "Camouflage," with a low estimate of $1.5 million, couldn't manage $1 million.
The spring auctions wrap up on Wednesday at Christie's.
This economy is the worst since the great depression
ping
It's clear why real estate is going so high. Money is getting to be worth absolutely nothing.
These pieces have considerable historical interest, because they mark the turn from high art to schlock, at the birth of the artistic and political movement that later came to be called postmodernism. But as art they are worthless. At some point their value will crash, but who knows when?
I forget which of Donatella's children inherited Gianni's artwork. I guess they needed the money.(sarc)
Come to the Warhol museum in Pittsburgh and see his "Nosepicker" series.
I believe it was Allegra, his godchild.
Perhaps it's because I grew up with her. And from a pop historical point of view, at one point she was considered the most beautiful woman in the world. I think the picture will probably hold some value for an extended period of time.
If I owned this Warhol, I'd actually have two portraits in one for my money.....Liz and Michael Jackson, LOL.
(....and ouch!)
Leni
I have doubts about the proportions of her right arm, especially its upper part (that is, the part adjacent to her chin).
(steely)
Pop Art bores me. The entire movement should be thrown in the trash.
The only art I like is P-O-R-N :P
Not only is her right arm badly deformed, but that skin condition with all those little dots must be excruciating. A definite poster child for the euphoria of euthanasia. Disconnect her paint tube, NOW!!!
When I have to feel good about Pennsylvania artists I think of Cassatt, and Andrew Wyeth.
Just added a complete volume on Cassatt's work to my art library.
Andrew Wyeth.
Ditto. Any one who would p*ss away $12 million on this piece of toilet paper is a complete and irresponsible idiot. There is an art gallery here in the People's Republic of New Hampshire displaying what looks like a transluscent dildo with the words "F*CK YOU, JACK!" on display right in the front window (where children can see it...the word I censored is spelled out) Asking price: $45,000. Near Dartmouth, natch.
...right along with their jaded leftist communist supporters.
Yes, the upper line is too flat.
This must be one of Lichtenstein's more boring, later works. Even the earlier works, which have words, are fun and clever, but are not too deep. Certainly not worth millions, to me.
I think the Pop Art bubble will burst. Sometime. All those prices looked about 10 times what I could see their value as. But, then again, funny things happen at auctions when just two people are bidding on something they really want.
Values change when one buys things for investment rather than just liking them. I think it is easy to get get inflated ideas and to spend what will turn out to be too much for poor pieces.
I can highly recommend a trip to Brandywine if you've never been there.
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