Basquiat Record Rounds Out Blockbuster Auction Series

  • "Untitled" of 1981 by Jean-Michel Basquiat sold for $16 million at Phillips de Pury.

    "Untitled" of 1981 by Jean-Michel Basquiat sold for $16 million at Phillips de Pury.

May has so-far ushered in a record-smashing season of auctions. Led by the stunning $120 million sale of Edvard Munch's "Scream," the highest price ever paid for art at auction, a multitude of artist price records have fallen. Nearly $1.5 billion of art was sold in 2 weeks at three New York auction houses: Christie's, Sotheby's and Phillips de Pury.

The latest headliner is Jean Michel Basquiat's ‘Untitled” (1981), from the collection of Robert Lehman, which doubled its low estimate to fetch $16 million at a $87 million Phillips sale.

Also last week, Christie's achieved the highest amount ever in the category of post-war and contemporary art with a $388 million evening sale. A Mark Rothko brought $87 million, among 14 auction records in the sale, and the most expensive post-war artwork to date. The sale also boasted the priciest collection of post-war and contemporary art at auction with the Pincus collection bringing $175 million.

Sotheby's sale was bolstered by Roy Lichtenstein's Pop art icon "Sleeping Girl," which set a new
auction record for the artist at $44.9 million.

Buyers were choosy though. Lesser works, or less "important" works, by blue-chip artists such as Basquiat, Andy Warhol, Jeff Koons, Gerhard Richter, Willem de Kooning, and others, went near their low estimates or failed to sell.

This week begins the series of American art auctions in New York.

More News Feed Headlines

Eric I.  Spoutz lecturing at a museum in Los Angeles in 2012

Art Dealer Eric Spoutz Sentenced to 41 Months in Prison for Fraud

  • February 20, 2017 17:06

Michigan art dealer Eric Spoutz has been sentenced to 41 months in prison for wire fraud charges ...

Read More

Museum of Ice Cream (photo)

NYC's Museum of Ice Cream Heads to California

  • February 20, 2017 17:06

The sensational pop-up Museum of Ice Cream that sold-out tickets when it opened in New York last ...

Read More

Siemens phone belonging to Adolf Hitler

Hitler's 'Mobile Device of Destruction' Sells at US Auction

  • February 20, 2017 16:49

A telephone bidder acquired Adolf Hitler's red-painted telephone for $243,000 at a US auction. ...

Read More

Stoppelaere house

Egypt Reopens the Museum of Islamic Art, Renovates Historic Home of French Archaeologist

  • February 20, 2017 16:08

Cultural preservation moved forward in Egypt over the past month. Terrorist attacks have slumped ...

Read More

Related Press Releases

Related Events from ArtfixDaily Calendar

 
Schwenke Auctioneers - Eastern European and Asian Decorative Arts Auction - Feb 22

ArtfixDaily Artwire