29th of June, Sotheby’s London Contemporary Art Evening Sale brought the extraordinary total of $174,129,201 – in excess of pre-sale expectations (estimate: £74-105 million) and establishing the highest total ever achieved for any sale of Contemporary Art in London.
Buyers from 14 countries participated in the auction, which achieved remarkable sell-through rates of 89.8% by lot and 93.9% by value and established five new artist records. Twenty-nine works sold for over £1 million, and 45 lots sold for over $1 million.
The Duerckheim Collection – the greatest offering of German Art of the 1960s and 1970s ever to come to market – realised £60,401,650 / $96,666,801 / €67,130,189, almost doubling the low estimate of £31.8-45.9 million, with almost every lot contested by multiple bidders. A further 25 lots from the collection will be offered in tomorrow’s Contemporary Art Day Sale.
The five new artists records established tonight were for Blinky Palermo, Sigmar Polke, Eugen Schönebeck, Markus Lüpertz and Georg Baselitz.
A group of three works from the collection of Eurythmics legend Dave Stewart realised the combined total of £1,851,750/$2,963,567 – surpassing the pre-sale low estimate of £1.3 million for all seven works in the collection.