Friday, December 9, 2016

Christie’s Has Art World’s First $1 Billion Week

“The Field Next to the Other Road” sold for $37.1 million.
For the first time ever, an auction house sold more than $1 billion of art over three days. That vast gusher of money even amazed the uber-wealthy and celebrities present.

On May 13, 2015 Christie’s sold $658.5 million worth of work at its postwar and contemporary art auction, then added $705.9 million for 20th-century works. The billion-dollar threshold was a symbolic coup for Christie’s

Andy Warhol’s 1963 silkscreen on canvas, “Colored Mona Lisa,” sold for $56.2 million

Mark Rothko’s “No. 10", $81.9 million

Lucien Freud’s 1994 oil painting “Benefits Supervisor Resting,” $56.2 million

Van Gogh, "The Allee Of Alyscamps", $66.3 million.
Laurence D. Fink, chairman of BlackRock Inc., the world’s biggest asset-management company, pronounced that contemporary art, as well as real estate in cities such as New York and London, had usurped gold as a store of wealth.

“There’s something slightly boastful wanting to own these things,” Ms. Asher said. “And there’s a prevalent sense that this is also about asset gathering, not just collecting.”

Picasso's “Les Femmes d'Alger (Version 'O')” $179.4 million.