Auction where Warhol’s Merlin sold for $195M was ‘bidder frenzy’

Andy Warhol’s shot of Sage Blue Merlin has gone under the hammer for $195 million, becoming the most expensive work by an American artist ever sold at auction and the most expensive art of the 20th century ever sold. Wealthy art enthusiasts are eager to return to auction after two years of a seemingly endless [...]

Auction where Warhol’s Merlin sold for $195M was ‘bidder frenzy’

Andy Warhol’s shot of Sage Blue Merlin has gone under the hammer for $195 million, becoming the most expensive work by an American artist ever sold at auction and the most expensive art of the 20th century ever sold.

Wealthy art enthusiasts are eager to return to auction after two years of a seemingly endless pandemic that set off the frenzy of in-person bidding.

And as the stock market is still volatile as many industries recover from COVID-19 and supply issues, and NFTs and cryptocurrencies slow down amid seven percent US inflation, it appears that wealthy investors may be putting their money into something like this. which they can see and admire; Art.

Monday’s auction at Christie’s in New York City was the official return of affluent art lovers, who paid 21 times more than estimates for the pieces – proving that it would be better than a geopolitical war or a worldwide pandemic to crumble the art world. will take more time

Among the pieces sold was Mike Bidlow’s Not Picasso – which was estimated at $80,000 but sold for $1.3 million. Francesco Clemente’s The Fourteen Stations, which is estimated to cost $120,000, sold for $1.8 million.

Christie’s said an unidentified buyer, believed to be American art dealer Larry Gagosian, purchased Warhol’s Marilyn 1964 silk-screen for $195 million. When the auction was announced earlier this year, they estimated it could go up to $200 million.

“We sold the most expensive painting of the 20th century,” Alex Rotter, president of Christie’s 20th and 21st Century Art Department, told The New York Times. ‘This is a great achievement.’

Christie’s chief executive Guillaume Cerutti also said: ‘This is where we clearly wanted to be. This proves that we are in a very flexible art market.’

Monday’s auction at Christie’s in New York City proved to be the official return of affluent art lovers by paying online bidders and crypto art enthusiasts 21 times the pieces’ estimates for the piece — proving it was a geopolitical affair. Will there be more than a war or a worldwide pandemic for the crumbling of the art world

Christie's said an unidentified buyer, believed to be American art dealer Larry Gagosian, purchased Warhol's Marilyn 1964 silk-screen for $195 million.  When the auction was announced earlier this year, they estimated it could go up to $200 million

Christie’s said an unidentified buyer, believed to be American art dealer Larry Gagosian, purchased Warhol’s Marilyn 1964 silk-screen for $195 million. When the auction was announced earlier this year, they estimated it could go up to $200 million

Among the pieces sold was Mike Bidlow's Not Picasso - estimated at $80,000 and sold for $1.3 million

Among the pieces sold was Mike Bidlow’s Not Picasso – estimated at $80,000 and sold for $1.3 million

How much did the buyers pay?

Among the pieces sold was Mike Bidlow’s Knot Picasso – an estimated $80,000 and sold for $1.3 million.

Francesco Clemente’s The Fourteen Stations, which is estimated to cost $120,000, sold for $1.8 million.

Christie’s said an unidentified buyer, believed to be American art dealer Larry Gagosian, purchased Warhol’s Marilyn 1964 silk-screen for $195 million. They estimate it could go up to $200 million

Ann Craven’s I Wasn’t Sorry, Estimated $20,000, Sold for $680,400

The sale at the British auction house ousted the previous record-holder, Jean-Michel Basquiat, whose 1982 painting Untitled sold for a record $110.5 million at Sotheby’s in 2017.

The proceeds of the sale will go to the Thomas and Doris Ammann Foundation Zurich, which put the painting up for auction. The Foundation aims to help children with health care and educational programs.

“Shot Sage Blue Merlin is the absolute pinnacle of American pop,” Rotter said in a statement announcing the auction. ‘Painting transcends the genre of portraiture, replacing the art and culture of the 20th century.’

The painting is based on a promotional photograph of Monroe from the 1953 film ‘Niagara’, which is depicted with bright colors on her eyes, hair and lips.

Its title refers to an incident in which a woman shot at a stack of four Marilyn portraits with a pistol in Warhol’s studio, although the shot did not shoot Sage Blue Merlin.

The 40-inch by 40-inch silk-screen Warhol is part of a series of portraits created by the pop artist of Monroe after his death from a drug overdose in August 1962.

‘The splendid picture separates the man and the star: the Marilyn woman is gone; The horrific circumstances of her life and death are forgotten,’ said George Frey, chairman of the board of the Thomas and Doris Amman Foundation.

‘All that remains is the mysterious smile that links him to another mysterious smile of an iconic lady, the Mona Lisa.’

The art world has largely been spared from the general air of uncertainty of broader markets, as buyers are wealthy and heavily shielded from the volatility of more mundane factors such as rising inflation.

The 40-inch by 40-inch silk-screen Warhol is part of a series of portraits created by the pop artist of Monroe after his death from a drug overdose in August 1962.

The 40-inch by 40-inch silk-screen Warhol is part of a series of portraits created by the pop artist of Monroe after his death from a drug overdose in August 1962.

Ann Craven's I Wasn't Sorry, estimated at $20,000, sold at Christie's for $68,00,000

Ann Craven’s I Wasn’t Sorry, estimated at $20,000, sold at Christie’s for $68,00,000

Francesco Clemente's The Fourteen Station, which is estimated to cost $120,000, $1.8 million.  sold in

Francesco Clemente’s The Fourteen Station, which is estimated to cost $120,000, $1.8 million. sold in

Art sales were also driven by the sudden rise of crypto-art stemming from digital work authenticated with non-fungible tokens, or NFTs, during the peak of the pandemic.

An NFT is a unique computer file encrypted with an artist’s signature, which acts as a digital certificate of ownership and authenticity.

In March 2021, Christie’s sold an NFT-based work by American artist Beeple for $69.3 million, giving the platform momentum.

But while the NFT craze seems to be fading, with sales fluctuating dramatically, the traditional art market is doing more than just fine.

According to Statista, global sales in the art and antiques market grew 29 percent to $65.1 billion in 2021—after a sharp decline in 2020 due to the coronavirus pandemic.

While sales last year remained below pre-pandemic levels — $67.4 billion achieved in 2018 — renewed enthusiasm from bidders fueled the promise of a 2022 marked by unprecedented sales.

Austrian gallerist Thaddeus Ropack, who was on sale, told The New York Times, “There’s a lot of appetite, a lot of money and a lot of quality.” ‘With all these things, it should work.’

A single NFT artwork (above) by digital artist Beeple earned $69.3 million at Christie's in March 2021.

A single NFT artwork (above) by digital artist Beeple earned $69.3 million at Christie’s in March 2021.

Picasso's Femme New Cauchy is appearing at auction for the first time, and Sotheby's expects it to fetch more than $60 million.  Other highlights include a Monet View of Venice that is tipped to fetch $50 million

Picasso’s Femme New Cauchy is appearing at auction for the first time, and Sotheby’s expects it to fetch more than $60 million. Other highlights include a Monet View of Venice that is tipped to fetch $50 million

Philip Hoffmann, founder of the Fine Art Group, also told the Times that the auction could raise up to $2 billion in the next few weeks.

“A huge amount has been withheld for two years, and a huge amount of new customers have lost their demand,” he said. ‘Everyone was waiting for the right time, and the right moment has come.’

Sotheby’s is offering $1 billion in modern and contemporary art during its prime week.

After selling the first batch of works from the McLough collection, the most expensive to hit the market at $600 million, last fall, Sotheby’s will auction off the remaining 30 items when its sale opens on May 16.

Highlights include Gerhard Richter’s 1975 Seascape, which is estimated to cost up to $35 million, and Rothko’s Untitled from 1960, which has a high-end pre-sales estimate of $50 million.

Sotheby’s said the Modern Evening auction of 19th and 20th century works including Pablo Picasso and Philippe Guston is its ‘most valuable’ in the category in 15 years.

Picasso’s Femme New Cauchy is appearing at auction for the first time, and Sotheby’s expects it to fetch more than $60 million. Other highlights include a Monet View of Venice that has been tipped to fetch $50 million.

Brooke Lampley, head of global fine arts sales at Sotheby’s, said she expects to break records across categories.

‘The art market is very strong. That’s why we see this season offering such wonderful works,’ she said.

source: www.dailymail.co.uk