POST SALE RELEASE: POST WAR AND CONTEMPORARY ART AND ITALIAN EVENING AUCTIONS ACHIEVE HIGHEST EVER COMBINED TOTAL FOR AN EVENING IN FRIEZE WEEK

POST WAR AND CONTEMPORARY ART AND ITALIAN EVENING AUCTIONS ACHIEVE HIGHEST EVER COMBINED TOTAL FOR AN EVENING IN FRIEZE WEEK £78,729,000 / $121,793,764 / €106,756,524 NEW RECORD SET FOR HIGHEST ITALIAN SALE TOTAL £43,166,500 / $66,778,576 / €58,533,774

London

PRESS RELEASE | LONDON

FOR IMMEDIATE RELEASE – 16 OCTOBER 2015

 

POST WAR AND CONTEMPORARY ART AND ITALIAN EVENING AUCTIONS ACHIEVE HIGHEST EVER COMBINED TOTAL FOR AN EVENING IN FRIEZE WEEK

£78,729,000 / $121,793,764 / €106,756,524

NEW RECORD SET FOR HIGHEST ITALIAN SALE TOTAL

£43,166,500 / $66,778,576 / €58,533,774

Running Total for Frieze Week Auctions at Christie’s

£93,704,125 / $144,660,779 / €126,748,315

14 records artist records including:

Vincenzo Agnetti, Joe Bradley, Gianni Colombo, Nicole Eisenman, Luciano Fabro,

Charline von Heyl, Gerald Laing, Giorgio Morandi, Albert Oehlen,

Giuseppe Uncini, Jonas Wood, Lynette Yiadom-Boakye and Toby Ziegler

 

London  On October 16, Christie’s London evening auctions of Post-War & Contemporary Art and The Italian Sale realised a record-breaking combined total of £78,729,000 / $121,793,764 / € 106,756,524.  Together with the sale of ‘A Visual Odyssey: Selections from LAC (Lambert Art Collection), on Wednesday 14 October, this brings the running total of auctions at Christie’s during Frieze week to £93,704,125 / $144,660,779 / €126,748,315. The Italian Sale reached the highest total for any auction of 20th-century Italian art. The top price of the night was paid for Peter Doig’s, Cabin Essence painted in 1993-4, which sold for £9,602,500 / $14,855,068 / €13,020,990 and follows the record set for the artist at Christie’s last season. Registered bidders from 47 countries across five continents demonstrated the continued strength of the global contemporary art market, with 22 lots selling for over £1 million and 33 for over $1 million.

14 artist records were set on the night across both the Post-War and Contemporary Evening Auction and Italian sale: Nicole Eisenman, Charline von Heyl, Gerald Laing, Albert Oehlen, Jonas Wood, Lynette Yiadom-Boakye and Toby Ziegler, all reached their highest figures alongside Joe Bradley’s Untitled that matched the artist’s current world record at auction. Those established in the Italian Sale included: Vincenzo Agnetti; Gianni Colombo; Luciano Fabro; Giorgio Morandi and Giuseppe Uncini. More highlights included the highest ever price for any Andy Warhol 24-inch Flower painting and a record price for a joint work by Lucio Fontana and Osvaldo Borsani. 

 

“We are thrilled with the results of this evening’s auction. Christie’s is dedicated to developing relationships with clients in a special way, by offering the freshest material. This sale brought together some of the most in-demand artists and provided us with the opportunity to display classic German painters such as Albert Oehlen, Martin Kippenberger and Gerhard Richter alongside the major contemporary figures such as Lynette Yiadom-Boakye, Jonas Wood, Amy Sillman and Charline von Heyl who are forming the next generation of painters. Fourteen artist records were set demonstrating the interest and sophistication of the global art market today.  We will continue to innovate and tell new narratives to this audience who have responded with such energy to tonight’s auction. ”
Edmond Francey, Head of Department, Post-War and Contemporary Art, London

 

“Christie’s has placed emphasis on educating an international set of collectors since our first sale 15 years ago and tonight’s sale achieved not only a record-breaking total but provided a platform for bidders from 42 countries. We are committed to introducing new artists to the market so as well as works by Fontana and Boetti we are delighted that records were set for Lucio Fabro, Vincenzo Agnetti and Giuseppe Uncini. The unparalleled interest in the Italian Sales reflects what is going on across London and New York right now and establishes our commitment to the field.”

Mariolina Bassetti, Chairman and Head of Post-War and Contemporary Art, Italy

 

Post-War and Contemporary Evening Auction

With sell through rates of 92% by value, the Post War and Contemporary Evening Auction achieved a total of £35,562,500 / $55,015,188 / € 48,222,750.  The night was led by Peter Doig’s Cabin Essence, one of the largest of his early series of works, which was part of his Turner-Prize exhibition in 1994, and sold for a figure of £9,602,500 / $14,855,068 / €13,020,990. The sale saw registered bidders from 36 countries across four continents. 

With almost 90% of the works offered for the first time at auction, new generation painting was hotly in demand, redefining the market for many headline artists.  This was evidenced by an energetic start to the evening with new artist records set for artists including Lynette Yiadom-Boakye, whose Knave (2011) sold for £446,500 ($690,736 / €605,454) over five times its pre-sale high estimate of £80,000. The painting was pursued on the telephone and in the room, going on to set a new artist’s record, at more than tripling her previous record of £146,500.  This enthusiasm was quickly followed by Jonas Wood’s Untitled (MV Landscape) (2008), which established a record-breaking figure of £542,500 / $839,248/ €735,630, setting a new artist’s record for a work at auction, and by Adrian Ghenie’s Pie Fight Interior (2012), which sold for £446,500 / $690,736 / €605,454. Charline von Heyl’s painting was sold for £110,500 / $170,944 / €149,838 setting a new record for her work at auction while Amy Sillman’s Platypus achieved more than double its low estimate of £70,000 to achieve £158,500 / $245,200 / €214,926. 

Another artist that was much sought after was Gerald Laing, currently showing as part of Tate Modern’s ‘The World Goes Pop’ exhibition, whose Commemoration (1965) had not been seen in public since 1965 and sold for £1,202,500 / $1,860,268 / €1,630,590, breaking the artist’s previous record set at Christie’s last year.

German painting also drew strong interest from collectors with Albert Oehlen’s Untitled (1989) achieving £1,142,500 / $1,767,448 / €1,549,230, more than twice its low estimate of £400,000, setting a new record and confirming the seventh record for his work held by Christie’s.  More highlights included a Gerhard Richter painting which sold for £2,658,500 / $4,112,700 / €3,604,926 and a 21 panel painting by Martin Kippenberger that sold at £2,434,500 / $3,766,172 / €3,301,182 with huge interest in a Günther Förg that doubled its low estimate of £140,000 and sold for £362,500 / $560,788 / €491,550.

 

The Italian Sale

With sell through rates of 96% by value, the Italian Sale achieved a new world record for the highest ever Italian Sale total at £43,166,500 / $66,778,576 / € 58,533,774, with 14 works sold for over £1 million and 21 over $1 million. The sale saw registered bidders from 42 countries across five continents. 

New records were established for Vincenzo Agnetti, Giorgio Morandi, Luciano Fabro, Giuseppe Uncini and Gianni Colombo. Alberto Burri’s 1961 Rosso Plastica M1 led the sale, having been in the same collection since 1969 and with the artist currently the subject of a retrospective at the Guggenheim New York, it was sold for £3,442,500 / $5,325,548 / €4,668,030. Suspended from the ceiling, Fabro’s most flamboyant and varied of the ‘Italie’ sculptures achieved the record breaking price of £2,714,500 / $4,199,332 / €3,680,862, more than three times its high estimate of £80,000.

Eleven Lucio Fontana works achieved a combined total of £13,235,500/ $20,475,319 / € 17,947,338 while ten works by Alighiero Boetti totalled £4,153,000 / $6,424,691 / € 5,631,468. Four works by Enrico Castellani achieved £4,266,000 / $6,599,502 / €5,784,696 alongside strong sales of Michelangelo Pistoletto and Arnaldo Pomodoro. 

Christie’s auctions during Frieze week continue on 17 October with the Post War and Contemporary Day Auction where 26 works will be auctioned to benefit the Schinkel Pavilion in Berlin and London’s Tricycle Theatre, and are followed by the Post War and Contemporary Art Online Auction which remains open for bidding until 20 October. 

 

PRESS CONTACTS:

Belinda Bowring | 0207 389 2677| bbowring@christies.com

      

Images available on request  

 

About Christie’s 

Christie’s, the world's leading art business, had global auction and private sales in 2013 that totalled £4.5 billion/ $7.1 billion, making it the highest annual total in Christie’s history. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christie’s offers around 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery. Private sales totalled £760.5 million ($1.19 billion) in 2013, an increase of 20% on the previous year.

Christie’s has a global presence with 53 offices in 32 countries and 12 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, Shanghai, and Mumbai. More recently, Christie’s has led the market with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.

*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.

 

 


 

About Christie’s

Christie’s, the world's leading art business, had global auction, private and digital sales in 2018 that totalled £5.3 billion / $7 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and international expertise. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery.

Alongside regular sales online, Christie’s has a global presence in 46 countries, with 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, and Shanghai.

*Please note when quoting estimates above that other fees will apply in addition to the hammer price - see Section D of the Conditions of Sale at the back of the sale catalogue.

*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and are reported net of applicable fees.