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  • Sotheby's London February 2012 Contemporary Art Evening Auction Totals 50.7 / $79.7/ 60.7 Million - Above Its Pre-Sale High Estimate

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    LONDON, WEDNESDAY, FEBRUARY 15, 2012 --- Sotheby’s Contemporary Art Evening Auction tonight realised the exceptional total of £50,688,450/ $79,672,106/ €60,719,674, surpassing pre- sale high expectations (estimate: £35.8-49.7 million*). The auction established extremely strong sell- through rates of 90.5% by lot and 94.6% by value and saw two artist records at auction set for A. R. Penck and Albert Oehlen. Buyers from 20 countries participated in the auction, which also witnessed 9 works sell for over £1 million, and 21 lots sell for over $1 million. Following last November’s auction record for a work by Gerhard Richter**, the top selling-lot of tonight’s sale was Abstraktes Bild (numbered 768-4) - one of the most vivid and commanding works from the artist’s cycle of abstracts executed in 1992 - which sold for £4,857,250/ $7,634,626/ €5,818,498, exceeding its pre-sale high expectations (est. £3-4 million). The work appeared at auction for the first time this evening. The second highest price established this evening of £4,297,250/ $6,754,418/ €5,147,674 was paid for the artist’s Eis (“Ice”) of 1981, which saw competition from no fewer than seven bidders both in the saleroom and on the telephones, more than doubling its pre-sale low estimate (est. £2-3 million). The price achieved represents the auction record for a landscape by Gerhard Richter. This photo realist work is the definitive paragon of the artist’s landscape paintings. Sharing the third highest price the evening, of £4,073,250/ $6,402,334/ €4,879,345, was Gerhard Richter’s Abstraktes Bild (“Rot”) and Jean Michel-Basquiat’s Orange Sports Figure: • Abstraktes Bild (“Rot”), executed in 1991, saw competition from three telephone bidders and sold above its high estimate (est. £2.5-3.5 million). The work is a prime example of Gerhard Richter’s intellectual inquiry into abstraction. • Jean Michel-Basquiat’s Orange Sports Figure – an unrivalled pictorial masterpiece and an exceptionally rare- to-auction work – sold above its high estimate (est. £3-4 million). Within the past two weeks, during the pre- sale view, Sotheby’s Contemporary Art department, made a major discovery in relation to the artist’s working process. Specialists learned that the painting, which was painted in 1982, the definitive year for Basquiat’s oeuvre, was signed by the artist in invisible ink only detectable using UV light, which significantly contributes to the scholarship on Basquiat’s short-lived career. Discussing the results, Cheyenne Westphal, Sotheby’s Chairman of Contemporary Art Europe, said: “We’re extremely pleased with the results of tonight’s sale and the above-estimate total of £50 million which we achieved. We witnessed a huge depth of international bidding right across the auction, with buyers coming from no fewer than 20 countries. Gerhard Richter once again dominated, with all six of his works selling for an aggregate sum of £17.6 million, above the combined estimate for the group of £14.8 million, with four of the pieces falling within the top-ten selling works in the sale***.” Commenting on the performance of the British Art Section of the sale, Oliver Barker, Deputy Chairman Sotheby’s Europe and Senior International Specialist, Contemporary Art, said: “British Art performed very well this evening. We are delighted with the prices achieved for Lucian Freud’s ‘Lord Goodman’ and ‘Gorse Sprig’ works, and the record for an Egyptian palette series work by Bridget Riley and the sterling record for a work by Howard Hodgkin.” 2 Following the strong prices achieved for works on paper by Lucian Freud in 2011, highlighting this evening’s British Art section of the sale was an offering of exceptional and encyclopedic fresh-to-market private collection of drawings by the renowned School of London artist. Together, the works on paper realised a total of £2,372,650 / $3,729,331, surpassing the combined pre-sale estimate of £1,450,000-2,000,000.

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    Sotheby’s London February 2012 Contemporary Art Evening Auction Totals £ 50.7 / $79.7/ €60.7 Million – Above Its Pre-Sale High Estimate

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    LONDON, WEDNESDAY, FEBRUARY 15, 2012 --- Sotheby’s Contemporary Art Evening Auction tonight realised the exceptional total of £50,688,450/ $79,672,106/ €60,719,674, surpassing pre- sale high expectations (estimate: £35.8-49.7 million*). The auction established extremely strong sell- through rates of 90.5% by lot and 94.6% by value and saw two artist records at auction set for A. R. Penck and Albert Oehlen. Buyers from 20 countries participated in the auction, which also witnessed 9 works sell for over £1 million, and 21 lots sell for over $1 million. Following last November’s auction record for a work by Gerhard Richter**, the top selling-lot of tonight’s sale was Abstraktes Bild (numbered 768-4) - one of the most vivid and commanding works from the artist’s cycle of abstracts executed in 1992 - which sold for £4,857,250/ $7,634,626/ €5,818,498, exceeding its pre-sale high expectations (est. £3-4 million). The work appeared at auction for the first time this evening. The second highest price established this evening of £4,297,250/ $6,754,418/ €5,147,674 was paid for the artist’s Eis (“Ice”) of 1981, which saw competition from no fewer than seven bidders both in the saleroom and on the telephones, more than doubling its pre-sale low estimate (est. £2-3 million). The price achieved represents the auction record for a landscape by Gerhard Richter. This photo realist work is the definitive paragon of the artist’s landscape paintings. Sharing the third highest price the evening, of £4,073,250/ $6,402,334/ €4,879,345, was Gerhard Richter’s Abstraktes Bild (“Rot”) and Jean Michel-Basquiat’s Orange Sports Figure: • Abstraktes Bild (“Rot”), executed in 1991, saw competition from three telephone bidders and sold above its high estimate (est. £2.5-3.5 million). The work is a prime example of Gerhard Richter’s intellectual inquiry into abstraction. • Jean Michel-Basquiat’s Orange Sports Figure – an unrivalled pictorial masterpiece and an exceptionally rare- to-auction work – sold above its high estimate (est. £3-4 million). Within the past two weeks, during the pre- sale view, Sotheby’s Contemporary Art department, made a major discovery in relation to the artist’s working process. Specialists learned that the painting, which was painted in 1982, the definitive year for Basquiat’s oeuvre, was signed by the artist in invisible ink only detectable using UV light, which significantly contributes to the scholarship on Basquiat’s short-lived career. Discussing the results, Cheyenne Westphal, Sotheby’s Chairman of Contemporary Art Europe, said: “We’re extremely pleased with the results of tonight’s sale and the above-estimate total of £50 million which we achieved. We witnessed a huge depth of international bidding right across the auction, with buyers coming from no fewer than 20 countries. Gerhard Richter once again dominated, with all six of his works selling for an aggregate sum of £17.6 million, above the combined estimate for the group of £14.8 million, with four of the pieces falling within the top-ten selling works in the sale***.” Commenting on the performance of the British Art Section of the sale, Oliver Barker, Deputy Chairman Sotheby’s Europe and Senior International Specialist, Contemporary Art, said: “British Art performed very well this evening. We are delighted with the prices achieved for Lucian Freud’s ‘Lord Goodman’ and ‘Gorse Sprig’ works, and the record for an Egyptian palette series work by Bridget Riley and the sterling record for a work by Howard Hodgkin.” 2 Following the strong prices achieved for works on paper by Lucian Freud in 2011, highlighting this evening’s British Art section of the sale was an offering of exceptional and encyclopedic fresh-to-market private collection of drawings by the renowned School of London artist. Together, the works on paper realised a total of £2,372,650 / $3,729,331, surpassing the combined pre-sale estimate of £1,450,000-2,000,000.

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    Sotheby's London February 2012 Contemporary Art Evening Auction Totals 50.7 / $79.7/ 60.7 Million - Above Its Pre-Sale High Estimate

    Încărcat de

    Gavel
    LONDON, WEDNESDAY, FEBRUARY 15, 2012 --- Sotheby’s Contemporary Art Evening Auction tonight realised the exceptional total of £50,688,450/ $79,672,106/ €60,719,674, surpassing pre- sale high expectations (estimate: £35.8-49.7 million*). The auction established extremely strong sell- through rates of 90.5% by lot and 94.6% by value and saw two artist records at auction set for A. R. Penck and Albert Oehlen. Buyers from 20 countries participated in the auction, which also witnessed 9 works sell for over £1 million, and 21 lots sell for over $1 million. Following last November’s auction record for a work by Gerhard Richter**, the top selling-lot of tonight’s sale was Abstraktes Bild (numbered 768-4) - one of the most vivid and commanding works from the artist’s cycle of abstracts executed in 1992 - which sold for £4,857,250/ $7,634,626/ €5,818,498, exceeding its pre-sale high expectations (est. £3-4 million). The work appeared at auction for the first time this evening. The second highest price established this evening of £4,297,250/ $6,754,418/ €5,147,674 was paid for the artist’s Eis (“Ice”) of 1981, which saw competition from no fewer than seven bidders both in the saleroom and on the telephones, more than doubling its pre-sale low estimate (est. £2-3 million). The price achieved represents the auction record for a landscape by Gerhard Richter. This photo realist work is the definitive paragon of the artist’s landscape paintings. Sharing the third highest price the evening, of £4,073,250/ $6,402,334/ €4,879,345, was Gerhard Richter’s Abstraktes Bild (“Rot”) and Jean Michel-Basquiat’s Orange Sports Figure: • Abstraktes Bild (“Rot”), executed in 1991, saw competition from three telephone bidders and sold above its high estimate (est. £2.5-3.5 million). The work is a prime example of Gerhard Richter’s intellectual inquiry into abstraction. • Jean Michel-Basquiat’s Orange Sports Figure – an unrivalled pictorial masterpiece and an exceptionally rare- to-auction work – sold above its high estimate (est. £3-4 million). Within the past two weeks, during the pre- sale view, Sotheby’s Contemporary Art department, made a major discovery in relation to the artist’s working process. Specialists learned that the painting, which was painted in 1982, the definitive year for Basquiat’s oeuvre, was signed by the artist in invisible ink only detectable using UV light, which significantly contributes to the scholarship on Basquiat’s short-lived career. Discussing the results, Cheyenne Westphal, Sotheby’s Chairman of Contemporary Art Europe, said: “We’re extremely pleased with the results of tonight’s sale and the above-estimate total of £50 million which we achieved. We witnessed a huge depth of international bidding right across the auction, with buyers coming from no fewer than 20 countries. Gerhard Richter once again dominated, with all six of his works selling for an aggregate sum of £17.6 million, above the combined estimate for the group of £14.8 million, with four of the pieces falling within the top-ten selling works in the sale***.” Commenting on the performance of the British Art Section of the sale, Oliver Barker, Deputy Chairman Sotheby’s Europe and Senior International Specialist, Contemporary Art, said: “British Art performed very well this evening. We are delighted with the prices achieved for Lucian Freud’s ‘Lord Goodman’ and ‘Gorse Sprig’ works, and the record for an Egyptian palette series work by Bridget Riley and the sterling record for a work by Howard Hodgkin.” 2 Following the strong prices achieved for works on paper by Lucian Freud in 2011, highlighting this evening’s British Art section of the sale was an offering of exceptional and encyclopedic fresh-to-market private collection of drawings by the renowned School of London artist. Together, the works on paper realised a total of £2,372,650 / $3,729,331, surpassing the combined pre-sale estimate of £1,450,000-2,000,000.

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    +44 (0)20 7293 5000 F +44 (0)20 7293 5989 WWW.SOTHEBYS.

    COM

    Sale Results

    London, Bond St

    Sale L12020 Contemporary Art Evening Auction

    15 FEB 12

    Grand Total
    50,688,450 GBP (79,672,106 USD) (60,719,674 EUR)
    Sold by Lot:
    90.5%
    Sold by Value: 94.6%
    Lot

    Price (GBP)

    Exch Rate:
    Lots Offered:
    Lots Sold/Unsold:

    Estimate (GBP)

    1.57
    63
    57 / 6

    Buyer

    52
    4,857,250 ($7,634,626) (5,818,498) 3,000,000 - 4,000,000
    Gerhard Richter, Abstraktes Bild (768-4), 1992, oil on canvas, 200 by 160cm.

    Private Collector

    13
    4,297,250 ($6,754,418) (5,147,674) 2,000,000 - 3,000,000
    Gerhard Richter, Ice (Eis), 1981, oil on canvas, 70 by 100cm.

    Private European

    23
    4,073,250 ($6,402,334) (4,879,345) 3,000,000 - 4,000,000
    Anonymous
    Jean-Michel Basquiat, Orange Sports Figure, 1982, acrylic, oil stick and spray paint on canvas, 152.4 by 121.9cm.
    8
    4,073,250 ($6,402,334) (4,879,345) 2,500,000 - 3,500,000
    Gerhard Richter, Abstraktes Bild (rot), 743-1, 1991, oil on canvas, 200 by 140cm.

    Private European

    14
    3,065,250 ($4,817,960) (3,671,862) 2,000,000 - 3,000,000
    Gerhard Richter, Kind (Child), 1989, oil on canvas, 97 by 92cm.

    Private European

    10
    2,057,250 ($3,233,586) (2,464,379) 800,000 - 1,200,000
    Alberto Burri, Nero Plastica, 1965, burned plastic on canvas, 101.6 by 76.9cm

    Trade

    17
    1,833,250 ($2,881,502) (2,196,049) 500,000 - 700,000
    Zao Wou-ki, 28.12.99, 1999, oil on canvas, 114 x 146cm.

    Private Asian

    42
    1,833,250 ($2,881,502) (2,196,049) 1,800,000 - 2,500,000
    Francis Bacon, Figure with Monkey, 1951, oil on canvas, 66 by 56cm.

    Private European

    16
    1,609,250 ($2,529,419) (1,927,720) 600,000 - 800,000
    Zao Wou-ki, 10.01.91, 1991, oil on canvas, 130 x 162cm.

    Private Asian

    9
    937,250 ($1,473,170) (1,122,731)
    450,000 - 650,000
    Anonymous
    Yves Klein, ANT 59, 1960, pigment in synthetic resin on paper laid down on canvas, 76 by 40.3cm.
    28
    937,250 ($1,473,170) (1,122,731)
    600,000 - 800,000
    Private European
    Roy Lichtenstein, Nude in an Apartment, 1996, acrylic on paper collage, printed paper collage, tape and pencil on
    board, 82.6 by 71.1cm.
    ---PLEASE SEE SEPARATE POST-SALE RELEASE---

    Specialists in Charge: Oliver Barker, Cheyenne Westphal,


    Alexander Branczik

    Press Office Contact: Simon Warren

    Please note all prices include buyer's premium. Sale session totals are net aggregate figures plus premiums. Sotheby's buyer's premium is 25% of the
    hammer price on the first 25000, 20% of the hammer price up to and including 500000, and 12% thereafter on each lot. **Estimates do not include buyer's
    premium**
    SOTHEBY'S: REGISTERED AT THE ABOVE ADDRESS NO. 874867

    +44 (0)20 7293 5000 F +44 (0)20 7293 5989 WWW.SOTHEBYS.COM

    Sale Results
    Sale L12021 Contemporary Art Day Auction
    15,292,075 ($23,962,682)
    Grand Total:
    75.6%
    Sold by Lot:
    Sold by Value: 83.3%

    London, Bond St
    Exch Rate:
    Lots Offered:
    Lots Sold/Unsold:

    Price
    Estimate
    Lot
    127
    959,650 ($1,503,772)
    600,000 - 800,000
    Gerhard Richter, Abstraktes Bild, oil on canvas, 55.9 by 50.8cm, 1995

    Buyer
    Private Collector

    270
    529,250 ($829,335)
    400,000 - 600,000
    Jean-Michel Basquiat, Untitled (Head), acrylic on canvas 150 by 150cm, 1986

    European Trade

    118
    457,250 ($716,511)
    400,000 - 600,000
    Damien Hirst, Amyloglucosidase, household gloss on canvas, 108 by 127cm, 1993

    Trade

    205
    385,250 ($603,687)
    250,000 - 350,000
    Jean Dubuffet, Buste au Nez Tavel, oil on Masonite, 61 by 51cm, 1952

    European Private

    260
    385,250 ($603,687)
    150,000 - 200,000
    Zeng Fanzhi, Portrait no.12, oil on canvas, 100 by 100cm, 2004

    Asian Private

    261
    373,250 ($584,883)
    200,000 - 300,000
    Zhang Xiaogang, Bloodline Series: Boy, oil on canvas, 130 by110cm, 2003

    Private Collector

    171
    325,250 ($509,667)
    300,000 - 400,000
    Gerhard Richter, Abstraktes Bild, 472-3, oil on canvas, 50.5 by 70.5cm, 1985

    Anonymous

    117
    301,250 ($472,059)
    150,000 - 200,000
    Antony Gormley, Standing Matter XIII, forged ball baring, 191 by 51 by 32cm, 2005

    Anonymous

    250
    289,250 ($453,255)
    180,000 - 250,000
    Andy Warhol, Dollar Sign, acrylic and silkscreen ink on canvas, 25.5 by 20.3cm, 1981

    Private Collector

    216
    289,250 ($453,255)
    100,000 - 150,000
    Leon Kossoff, Building Site St. Paul's, oil on wood, 94 by 141cm, 1959

    Private Collector

    264
    289,250 ($453,255)
    170,000 - 220,000
    Yan Pei Ming, Mao, oil on canvas, 235 by 199.5cm, 1996

    Anonymous

    187
    289,250 ($453,255)
    150,000 - 200,000
    Sam Francis, Composition, acrylic on canvas, 132.1 by 193cm, 1988

    US Private

    16 FEB 12
    1.57
    240
    180 / 58

    Commenting on the results, Olivia Thornton, Sothebys Deputy Director and Head of the Contemporary Art Day Sale,
    said: We are extremely pleased with the results achieved for todays sale which brought a total comfortably within
    pre-sale expectations of 12.4-17.5 million. Following on from our Evening Auction last night, Gerhard Richter and
    Jean-Michel Basquiat dominated the sale once again, demonstrating the unabated demand for their work.
    Specialist in Charge: Olivia Thornton

    Press Office Contact: Simon Warren

    Please note all prices include buyer's premium. Sale session totals are net aggregate figures plus premiums. Sotheby's buyer's premium is 25% of the hammer price on the first
    25000, 20% of the hammer price up to and including 500000, and 12% thereafter on each lot. **Estimates do not include buyer's premium**
    SOTHEBY'S: REGISTERED AT THE ABOVE ADDRESS NO. 874867

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