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Serious moolah – each of the top 10 works at Christie’s is $10 million – or higher – UPDATED with sale results

October 24, 2012

Lot 38. Jeff Koons (b. 1955), Tulips, mirror-polished stainless steel with transparent color coating, (203.2 x 457.2 x 520.7 cm.) Executed in 1995-2004. This work is one of five unique versions.
Estimate: approximately $20 million This lot sold for $33,682,500 ($30 million hammer price plus buyer’s premium)

In her recent interview with Larry Gagosian, the Wall Street Journal’s Kelly Crow asked about the high prices of top lots coming to auction.  Gagosian observed: “Is a $10 million, $20 million picture considered midrange now? That’s still a lot of money, but a lot of collectors are buying at those price levels now.”  Well, at Christie’s upcoming sale of Post War and Contemporary art, it will cost at least $10 million or more for each of the top ten works being offered.

Here’s Judd Tully’s account of the sale as seen at artinfo.com.

Lot 35. Andy Warhol (1928-1987), Statue of Liberty, signed ‘Andy Warhol’ (on the turning edge), silkscreen inks, spray enamel and graphite on canvas, 77¾ x 81 in. (197.5 x 205.7 cm.) Painted in 1962.
Estimate: approximately $35 million This lot sold for $43,762,500 ($39 million hammer price plus buyer’s premium)

Lot 17. Franz Kline (1910-1962), Untitled, signed twice and dated twice ‘FRANZ KLINE ’57’ (on the reverse), oil on canvas, 79 x 110 3/8 in. (200.7 x 280.4 cm.) Painted in 1957.
Estimate: $20-30 million This lot sold for $40,402,500 ($36 million hammer price plus buyer’s premium)

Lot 42. Jean-Michel Basquiat (1960-1988), Untitled, oilstick, acrylic and spray enamel on canvas, 78 x 68 in. (198.1 x 172.7 cm.) Painted in 1981.
Estimate: approximately $20 million This lot sold for $26,402,500 ($23.5 million hammer price plus buyer’s premium)

Lot 14. Andy Warhol (1928-1987), Marlon, signed and inscribed ‘To Eric Andy’ (on the overlap), silkscreen ink on canvas, 41 x 46¼ in. (104.2 x 117.1 cm.) Painted in 1966.
Estimate: $15-20 millionThis lot sold for $23,714,500 ($21.1 million hammer price plus buyer’s premium)

Lot 22. Clyfford Still (1904-1980), PH-915 (No. 1, 1946), oil on canvas, 71 x 45 in. (180.3 x 114.3 cm.) Painted in 1946.
Estimate: $15-20 million This lot was withdrawn

Lot 28. Mark Rothko (1903-1970), Black Stripe (Orange, Gold and Black), signed and dated ‘MARK ROTHKO 1957’ (on the reverse), oil on canvas, 68 1/8 x 38 3/8 in. (173.1 x 97.5 cm.) Painted in 1957.
Estimate: $15-20 million This lot sold for $21,362,500 ($19 million hammer price plus buyer’s premium)

Lot 15. Gerhard Richter (b. 1932), Abstraktes Bild (779-2), signed, numbered and dated ‘779-2 Richter 1992’ (on the reverse), oil on canvas, 78¾ x 70¾ in. (200 x 180 cm.) Painted in 1992.
Estimate: $12-18 million This lot sold for $15,314,500 ($13.6 million hammer price plus buyer’s premium)

Lot. 39. Roy Lichtenstein (1923-1997), Nude with Red Shirt, signed and dated ‘rf Lichtenstein ’95’ (on the reverse), oil and Magna on canvas, 77 x 65 in. (198.1 x 167.7 cm.) Painted in 1995.
Estimate: $12-18 million This lot sold for $28,082,500 ($25 million hammer price plus buyer’s premium)

Lot 56. Gerhard Richter (b. 1932), Große Teyde-Landschaft, signed and dated ‘Richter 1971’ (on the reverse), oil on canvas, 78¾ x 118 in. (200 x 300 cm.) Painted in 1971.
Estimate: $10-15 million Bidding on this lot stopped at $9 million and it failed to sell.

Complete list of sale results.

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