Christie's First Open sale achieves record $12.5m in New York

paulfrasercollectibles

2015-06-26 13:11:43

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Christie's First Open sale achieves record $12.5m in New York

Christie's First Open sales give collectors a chance to discover emerging artists

Christie's has announced that its March 8 First Open sale in New York achieved a record total for an auction of its kind.

Gerhard Richter Ohne TitelAs the world's most valuable living artist, any chance to own a Richter work at an affordable price is pounced upon

The First Open series was launched in 2005 and provides collectors with a chance to discover emerging artists and explore lesser-known works by established names. Salesare held twice yearly in New York, with the first of 2013's instalments realising $12.4m.

As ever, Gerhard Richter's work was extremely popular, providing four of the top 10 sales. Leading was Ohne Titel, a 1986 oil on paper that sold with a 123.5% on its $350,000 high estimate for $782,500.

Dustin Yellin I See Boys of SummerDustin Yellin's auction debut featured a classic example of his work, which focuses on painting and collaging multiple layers of glass

An auction record was set fora Peter Doig work on paperat $626,500, after his Cobourg 3+1 More made a 108.8% gain on its $300,000 valuation. The sale was certainly spurred by the February auctionof The Architect's Home in the Ravine at Christie's, which set a new world record for any of Doig's works.

Similarly strong results were also seen by the work of emerging artists, with Dustin Yellin making his debut at auction with I see the Boys of Summer, which brought $30,000 -a 328.5% increase onits pre-sale estimate of $7,000. The work was part of the BKLYN series donated by 23 artists to benefit the Brooklyn Museum, which brought a total of $506,250.

Paul Fraser Collectibles also offers a selection of affordable artworks for sale, including items from Picasso, Dali and more.

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