Peter Doig masterpiece tops Christie's $117m London art sale

AnnaO

AnnaO

2017-03-08 15:43:57

A "spellbinding" masterpiece by Peter Doig claimed top honours in the latest Christie's Post-War and Contemporary Art sale in London.

The auction, which featured important works from both sides of the Atlantic, achieved a total of £96,384,000 ($117,781,248), marking an impressive 65% increase on the corresponding sale in 2016.

Leading the results was Peter Doig’s 'Cobourg 3 + 1 More', a snow scene painted in 1994. Described as "a metaphor for the incalculable, indefinable act of looking inside one’s own head", the work surpassed its high estimate to sell for £12.7 million ($15.5m).

Standout lots from iconic American artists included Mark Rothko’s landmark work 'No. 1 (1949)', which sold for £10.69 million ($13.06m); Robert Rauschenberg's 'Transom', which sold for £4.64 million ($5.67m); Jean-Michel Basquiat’s 'Alpha Particles', which realized £3.97 million ($4.85m); and Alexander Calder's mobile sculpture 'Guava' which sold for £4.53 million ($5.53m).

Leading the way for European masters was Jean Dubuffet, whose important 1963 work Être et poraître (To Be and to Seem), exceeded expectations to sell for £10.02 million ($12.24m).

The sale also set new auction records for works by Wolfgang Tillman, Cecily Brown, Njideka Akunyili Crosby, Henry Taylor, Albert Oehlen, Carol Rama and Günther Uecker.

"The exceptional sell-through rates of 95% by lot and 98% by value demonstrate that Christie’s is able to anticipate and meet the demands of the market today," said Edmond Francey, Head of Christie's Post-War and Contemporary Art Department in London.

"The prices achieved for American artists demonstrate that they are a significant force and London is an international platform, with top prices achieved for Carl Andre, Jean-Michel Basquiat, Alexander Calder, Robert Rauschenberg, Mark Rothko and Andy Warhol."

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