On Friday, March 6th, at Christie's auction house in New York (Rockefeller Plaza), First Open/NYC auction of Contemporary art has been held. At First Open/NYC auction we have seen one lot that was sold above $1 million, and 31 more lots that have been sold at $100,000 or more. In fact, although that more than one hundred lots haven't been sold, the total sum of sold lots was higher than the sum of low estimated prices - of all lots, not just sold ones. Now, let's check some more details of auction at Christie's.
There have been the total of 356 lots at auction at Christie's, and 254 of them have been sold, which makes a solid 71.3 percent. Out of those 254, 90 lots have been sold over the high estimated price (25.2 percent of total, or 35.5 percent of sold items). Ninety-three lots have been sold in range of estimated values (36.6 percent out of sold lots), and 71 lots changed hands for prices that were bellow their low estimate. These 254 lots were sold for total of $11,863,350, which was 0.4 percent higher than the sum of high estimated prices, and 41.9 percent higher than the sum of low estimates.
The only art work that has been sold for seven-figures was Andy Warhol's Triple Dollar Sign, that went for $1,004,000, or 5.7 percent above the high estimated price. Yayoi Kusama's Infinity Nets TWGZ changed owners for $424,000 (the high estimated price wa $450,000). Tom Wesselmann's Country Still Life with Yellow Curtain went for $304,000, as well as Jim Nutt's Gulf, but the latter work had simply spectacular sale, as its high estimated price was set at just $70,000. Alexander Calder's Necklace was sold for $254,000, Richard Pousette-Dart's Ramapo went for $10,000 less, and there were three works that were sold for $224,000 - Robert Rauschenberg's Time + Ties, Theodoros Stamos' The Door II and Oscar Murillo's Fried. Matthew Barney's Drawing Restraint 9 and Ai Jing's I Love Color #9 also changed hands for more than $200,000 - they were both sold for $204,000. While we mentioned excellent sale for Jim Nutt's work, that wasn't the biggest difference between the hammer price and the high estimated price: Karl Wirsum's Standing Figure was sold for $90,000, or with 650 percent difference (the high estimated price was $12,000). The same percent had Jack Whitten's The Norman Lewis Triptych 3rd Set, while Pablo Atchugarry's Untitled had 533.3 percent difference (it was sold for $114,000 and the high estimated price was $18,000. Than it comes Jim Nutt's Gulf (334.3 percent), Ai Jing's I Love Color #9 (308 percent), Jack Whitten's Church Street Spring (216.7 percent) and Ed Paschke's Shoetab #2 (188.9 percent).
On the other hand, Donald Roller Wilson's work called Big Hot Wet Tip had its hammer price with -52.5 percent difference between hammer price and the low estimate. Even worse difference had Anne Chu's Study for a Mounted Horseman (-66.7 percent) and Katja Strunz's Untitled (-80 percent). Out of the unsold lots, the highest estimated price had Gerhard Richter's Mustangs at $350,000. Marc Quinn's Byzantium had its high estimate at $300,000, as well as Keith Haring's Untitled (Three Dancing Figures). Jim Dine's Three Hearts also didn't change owners (it had its high estimate at $220,000) as well as Robert Rauschenberg's Rebundance (Shales) ($200,000 high estimate).
Featured image: Andy Warhol - Triple Dollar Sign, 1981-1982 (detail) (Lot 30)
All images courtesy of Christie's
Here you can find detailed information on how did all art works at Christie's: First Open/NYC go on Friday, March 6th - both their high and low estimated prices, as well as hammer prices.
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Featured image: Jim Nutt - Gulf, 1991 (detail) (Lot 28) (Courtesy of Christie's)