Alex Rodriguez's Basquiat Makes $3.36 M. at Phillips Contemporary Sale in London - Recent News from USA
Roy Lichtenstein

Alex Rodriguez's Basquiat Makes $3.36 M. at Phillips Contemporary Sale in London –

Roy Lichtenstein's The Conductor sold for $6.3 million.

Roy Lichtenstein’s The Conductor (1975) sold for £4.97 million, or $6.31 million.

COURTESY PHILLIPS

The June evening sales in London concluded tonight, with Phillips hosting a 20th-century and contemporary auction whose 36 lots included pieces from the collection of baseball star Alex Rodriguez, a couple of Picassos, and one work by Lynette Yiadom-Boakye, who will receive her first major survey at Tate Britain in London next summer.

The sale brought in £35.9 million (about $45.5 million), a healthy performance against an estimate of £24.55 million to £35.68 million (or $31.1 million to $45.2 million). Eleven lots were guaranteed, either by the house or third-parties. All but four works on offer found buyers, for a solid 89 percent sell-through rate.

The top lot of the sale was Roy Lichtenstein’s The Conductor (1975), which sold for £4.97 million ($6.3 million) against a £4 million-to-£6 million estimate ($5.07 million to $7.60 million).

A Basquiat and a Picasso came in second and third place, respectively. An electrifying untitled work by Basquiat from 1981 depicting Jackie Robinson sold for £3.84 million (£4.87 million) on a £3 million-to-£5 million estimate ($3.8 million to $6.33 million). Just behind it was Pablo Picasso’s Homme assis (Mardi gras), 1972, which sold for £3.07 million ($3.89 million), within its estimate of £2.5 million to £3.5 million ($3.17 million to $4.43 million).

Marlene Dumas' Losing (Her Meaning) from 1988.

Marlene Dumas, Losing (Her Meaning) , 1988.

COURTESY PHILLIPS

Alas, Rodriguez’s Basquiat did not fair as well. His Pink Elephant with Fire Engine (1984) sold for £2.66 million ($3.36 million), below its estimate of £3 million to £4 million ($3.80 million–$5.07 million).

Of course, that’s still a nice chunk of change, and Rodriguez has said he’ll keep buying art, building a collection his new wife, Jennifer Lopez.

While bidding was largely subdued, it picked up for Luc Tuymans’s Schwarzheide (1986), which exceeded its high estimate of £1 million ($1.27 million), selling for £1.22 million ($1.55 million). Also doing well was Marlene Dumas’s Losing (Her Meaning), 1988, which tripled its low estimate of £400,000 ($506,800), selling for £1.22 million ($1.54 million)

The high-end auction market largely goes quiet in the summer months, but will swing back into action in the fall.

Source link

Posts created 2651

Related Posts

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top