Session II, the last part of grand Post War & Contemporary Sale at Christie's New York, happened on May 14. These three parts of auction (Day Sale Session I & II and Evening Sale) gathered mind-blowing $670,770,000. Eighty percent of lots were sold on the last day of Post War & Contemporary Sale at Session II, and Joan Mitchell's Magnolia had, by far, the highest hammer price.
Joan Mitchell's Magnolia is a diptych, painted while the artist was living in Vétheuil, France. She cleverly used white color simply by leaving the canvas blank, and it is thought that this painting revived Mitchell's work, resulting with a growth of an era of bold experimentation in Mitchell's art. She has moved to Vétheuil in the late 1960s, and that gave her more space to paint and explore. Huge diptych Magnolia is one of the result, as she has composed a grand painting over two large scale canvases (195 x 260.4 cm), with inspiration found in the landscape of the French countryside.
Please, scroll down to find out more about most interesting lots that were auctioned at Session II.
Out of 217 lots, 174 were sold at Session II of Post War & Contemporary Day Sale (NY), or 80.2 percent. Total of $54,571,000 was netted, which means that the average hammer price for a lot was $313,626. The best result was $3,100,000 - that much money was spent on Joan Mitchell's Magnolia. There were 11 more lots with hammer price at $1 million or more (3 of 11 are Andy Warhol's works), and excellent 47.7 percent of sold lots had their hammer prices over high estimates (83 lots). Around one third of sold lots changed hands for prices that were in range of estimated values, and 20.1 percent of lots were sold under low estimate.
When it comes to the difference between high estimate and hammer price, the most successful lot - by far - was Frank Stella's Untitled, with hammer price that was more than 8 times higher than its high estimate. Mel Bochner's Counting Exercise: Circles, Alexander Calder's Black Looped Around The White, Bruce Conner's Room and Jim Dine's French Pants all did very good and all had between +200 and +300 percent difference.
In these two tables, you will find details for all lots that were auctioned at Session II of Post War & Contemporary Day Sale (NY) at Christie's, as well as the summarry of this auction.
Sign up now for My WideWalls and be up-to-date with contemporary and street art.
All images courtesy of Christie's.
New York City, United States of America
Read Other Interesting Stories
Who are the biggest winners of the New York Modern and Contemporary Auction Week of May 2019? Find out in our recap.
The outstanding USD 646.1 million auction of The Rockefeller Collection at Christie's set new world records for the majority of the sold artworks.
Since New York's May auctions are just around the corner, we thought this might be the right time to announce what'll be the biggest art sales of spring 2018.