Part of CNet co-founder Halsey Minor's contemporary art collection was hammered down by Phillips de Pury & Co. Proceeds from the $21.1 million sale, the first of three auctions, which included 22 of his artworks, will go toward a $21.6 million judgment obtained in October by ML Private Finance for a delinquent loan to Minor.
Among the highlights was Richard Prince’s “Nurse in Hollywood #4,” a 69-inch high canvas of a sultry nurse, which fetched $6.5 million, against a presale high estimate of $7 million.
Another top piece plucked from Minor's collection was the curvy, aluminum “Lockheed Lounge” by Marc Newson which fetched $2.1 million, up from the high estimate of $1.5 million and above the $968,000 paid for it in 2006.
Minor has litigation in process with Sotheby's and Christie's. He also owes the state of California $13.1 million in unpaid taxes.