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Aggressively priced Twombly tops Phillips Contemporary Art evening sale

November 8, 2011

Although there was only one actual bid, that’s all it took to sell Phillips’ top lot at last night’s sale of contemporary art, a late career Twombly painting, aggressively estimated at $8-12 million.  It sold to a telephone bidder for the low end of the estimate – a hammer price of $8 million (or $9,042,500 including the buyer’s premium).  The same case with Andy Warhol’s Nine Gold Marilyns (Reversal Series) of 1980, estimated at $7-10 million – a lone bidder got the painting for the low estimate of $7 million (or $7,922,500 including the buyer’s premium).  Many other lots sold at or below their low estimates.  Of the eleven works previewed here, ten sold. Here’s coverage by the New York Times, Wall Street Journal and artinfo.

This evening Christie’s will attempt to sell a 1961 Lichtenstein (estimated at $35-45 million) and other works at their sale of Post-War and Contemporary Art previewed here.

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