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Buyers Pay More for Warhols, Lichtenstein Than Projected

Tuesday, November 09, 2010

By Abbie Fentress Swanson

Andy Warhol's works of art have sold above their projected pricetags at two out of three of this week's contemporary art auction sales.

On Monday, Phillips de Pury and Company sold 59 works of art for $137 million, the most the auction house has made from a sale in its history. Warhol's 1962 silkscreen-and-pencil, "Men In Her Life," featuring movie star Elizabeth Taylor, led the way. It sold for over $63 million. Works by Cuban visual artist Felix Gonzalez-Torres, New York City photographer Cindy Sherman, Italian New York City-based artist Rudolf Stingel and German contemporary artist Thomas Schütte also brought in record prices.

Warhol also did well at Sotheby's evening contemporary art auction on Tuesday. His painting of a Coca Cola bottle, which was expected to net $25 million, sold for $35.4 million. Mark Rothko's Untitled also buoyed sales when it sold for $22.4 million. Sales of works by Gerhard Richter and Francis Bacon also did well, selling above their projected pricetags. The evening's totals came to $222.4 million, exceeding the pre-sale high estimate of $214 million.

On Wednesday night, the pricetag on Warhol's "Big Campbell's Soup With Can Opener" was significantly lower than expected. The work was estimated to sell for as much as $50 million, but only sold for $23.8 million. Christie's sold 14 other Warhol pieces for $46.2 million. A Roy Lichtenstein, Ohhh...Alright..., sold for $42.6 million--the most a Lichtenstein has ever sold for at auction. Overall, Christie's sold 75 pieces for $272.8 million.

Check out the slideshow below to see images of what sold on this week. Note: all prices listed include auction house fees.

Updated 11:45 PM, 11/10

Phillips thought Andy Warhol's <em>Men in Her Life</em> would sell for between $40 and $50 million. Monday night, it went for $63.3 million.
Phillips de Pury
Phillips thought Andy Warhol's Men in Her Life would sell for between $40 and $50 million. Monday night, it went for $63.3 million.

Executed in October-November 1962. Silkscreen and pencil on primed canvas. 84 1/2 x 83 1/4 in. (214.6 x 211.5 cm).

New York City photographer Cindy Sherman's <em>Untitled #153</em> sold at Monday's Phillips' auction for a record $2.7 million.
Phillips de Pury
New York City photographer Cindy Sherman's Untitled #153 sold at Monday's Phillips' auction for a record $2.7 million.

Signed, numbered and dated ‘Cindy Sherman 5/6 1985’ (on the reverse).  This work is from an edition of 6.

Cuban artist Felix Gonzalez-Torres's <em>Untitled (Portrait of Marcel Brient)</em> sold at the Phillips auction for a record $4.56 million at auction.
Phillips de Pury
Cuban artist Felix Gonzalez-Torres's Untitled (Portrait of Marcel Brient) sold at the Phillips auction for a record $4.56 million at auction.

Executed in 1992. Candies, individually wrapped in light-blue cellophane (endless supply). Ideal weight: 198.5 lbs (90 kg); dimensions vary with installation.

New York City-based Rudolf Stingel's <em>Untitled (after Sam)</em> sold for a record $902,500. Phillips estimated it would sell for between $300,000 and $400,000.
Phillips de Pury
New York City-based Rudolf Stingel's Untitled (after Sam) sold for a record $902,500. Phillips estimated it would sell for between $300,000 and $400,000.

Painted in 2005. Oil on canvas. 15 1/4 x 21 in. (38.7 x 53.3 cm).

German contemporary artist Thomas Schütte's <em>Old Friends</em> sold for a record $962,500. Phillips estimated it would sell for between $350,000 and $450,000.
Phillips de Pury
German contemporary artist Thomas Schütte's Old Friends sold for a record $962,500. Phillips estimated it would sell for between $350,000 and $450,000.

Conceived in 1992; printed in 1993. Twelve color photographs. 23 5/8 x 19 1/8 in. (60 x 48.6 cm) each (unframed); 33 1/2 x 28 1/2 in. (85.1 x 72.4 cm) each (framed).

Andy Warhol's <em>Large Coca-Cola</em> sold for $35.4 million at Sotheby's, higher than its $25 million high estimate.
Sotheby’s New York
Andy Warhol's Large Coca-Cola sold for $35.4 million at Sotheby's, higher than its $25 million high estimate.

1962. 81¾ x 56¾ in., 207.6 x 144.1 cm.

Roy Lichtenstein's <em> Ice Cream Soda</em>, which was expected to sell for between $12 and $18 million, sold for $14 million at Sotheby's.
Sotheby's New York
Roy Lichtenstein's Ice Cream Soda, which was expected to sell for between $12 and $18 million, sold for $14 million at Sotheby's.

1962. 64¾ x 32 1/8 in., 164.5 x 81.7 cm.

Mark Rothko's <em>Untitled</em>, which was expected to get up to $30 million at Sotheby's, sold for $22.4 million.
Sotheby's New York
Mark Rothko's Untitled, which was expected to get up to $30 million at Sotheby's, sold for $22.4 million.

Signed and dated 1955 on the reverse. Oil on canvas. 91⅝ x 69 in. 232.7 x 175.34 cm.

Gerhard Richter's <em>Matrosen (Sailors)</em> sold for $13.2 million at Sotheby's. It was expected to sell for no more than $8 million at Sotheby's on Tuesday.
Sotheby's New York
Gerhard Richter's Matrosen (Sailors) sold for $13.2 million at Sotheby's. It was expected to sell for no more than $8 million at Sotheby's on Tuesday.

Signed, Titled and Dated III.66 on the reverse. Oil on canvas. 59 x 78¾ in., 150 x 200 cm.

Francis Bacon's <em>Figure in Movement</em> sold for $14 million at Sotheby's. It was expected to sell for between $7 and $10 million.
Sotheby's New York
Francis Bacon's Figure in Movement sold for $14 million at Sotheby's. It was expected to sell for between $7 and $10 million.

Signed, titled and dated 1985 on the reverse. Oil on canvas. 78¼ x 58¼ in., 198.7 x 147.8 cm.

Andy Warhol's <em>Big Campbell's Soup Can with Can Opener (Vegetable)</em>, which was expected to sell for as much as $50 million at Christie's on Wednesday, only sold for $23.8 million.
Christie's Images LTD, 2010
Andy Warhol's Big Campbell's Soup Can with Can Opener (Vegetable), which was expected to sell for as much as $50 million at Christie's on Wednesday, only sold for $23.8 million.

casein and pencil on linen. 72 x 52 inches (182.9 x 132.1 cm.) Painted in 1962.

Gerard Richter's <em>Zwei Kerzen</em> sold for $12.9 million, under its high estimate of $16 million, at Christie's.
Gerard Richter's Zwei Kerzen sold for $12.9 million, under its high estimate of $16 million, at Christie's.

Oil on canvas. 59 x 39 3/8 inches (150 x 100 cm.) Painted in 1982.

Roy Lichtenstein's <em>Ohhh...Alright...</em> sold the most a Lichtenstein has ever sold at auction: $42.6 million.
Christie's Images LTD, 2010
Roy Lichtenstein's Ohhh...Alright... sold the most a Lichtenstein has ever sold at auction: $42.6 million.

Oil and magna on canvas. 36.1/2 x 38 in. (90.2 x 96.5 cm.) Painted in 1964.

Jeff Koons' <em>Balloon Flower (Blue)</em> sold for $16.8 million, just above the piece's high estimate of $16 million.
Christie's Images LTD, 2010
Jeff Koons' Balloon Flower (Blue) sold for $16.8 million, just above the piece's high estimate of $16 million.

1995-2000. High cromium stainless steel, mirrored polish finish with transparent color coating. 133 7/8x 112 1/4x 102 3/8in (340 x 285 x 260 cm.)

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