Home » News » Records at auctions for modern and contemporaries

Records at auctions for modern and contemporaries

DThe halls are occupied, the offer is outstanding and well secured by guarantees, the willingness to invest is enormous: at the New York evening auctions of Sotheby’s, Christie’s and Phillips, one record after the other fell and became two on Wednesday evening, days before the end of the two-week auction round -Billion threshold exceeded in total house income. Two private collections made a decisive contribution to this: Christie’s had the collection of the oil magnate Edwin Lochridge Cox, who died in 2020 at the age of 99, with impressionists and post-impressionists; Sotheby’s was able to show off the contemporary works of art that the Macklowe couple had put together before their divorce war provoked the foreclosure sale.

The first tranche of the “Macklowe Collection” alone with 35 lots (part two will follow in May) achieved $ 590 million; with a premium that is 676 million. The estimate was 439.4 to 618.9 million. Sotheby’s has never earned more at an auction of works from a property. All lots came with guarantees, and all of them were sold. It fits into the picture that Mark Rothko’s optimistically bright yellow and orange painting “No 7” from 1951 took the lead. Estimated at 70 to 90 million dollars, an Asian collector bought it at a hammer price of 77.5 million – the second highest auction result ever achieved for a Rothko.

– .

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.