Sotheby’s enjoyed a windfall Wednesday when the auction house’s New York HQ nearly doubled its estimated high of $67.9 million for its contemporary art bid-fest, in which Andy Warhol’s works figured prominently among the biggest-selling successes of the evening. One Warhol silk-screen painting in particular was the focus of furious bidding and featured a somewhat ironic image (especially considering the dollar’s ongoing struggles on the world market). –KA

The New York Times:

Just a year after the art market was in the doldrums with the world’s financial markets, buyers with deep pockets were not shy about stepping up for tried-and-true artists. The sale topped Sotheby’s expectations, totaling $134.4 million, well above its $67.9 million high estimate. Of the 54 works on offer, only two went unsold. The evening also eclipsed Christie’s auction of postwar and contemporary art on Tuesday night, which brought in $74.1 million. While both sales featured big-name artists, Sotheby’s had just enough blockbusters to make for a successful evening.

In pristine condition, “200 One Dollar Bills” was enticing to any Pop Art collector. Add to that the provenance — it had once been part of the celebrated collection of Robert C. Scull, the taxi tycoon — and it was irresistible.

[…] Warhols of all ages and subjects brought strong prices. A 1965 self-portrait with a top estimate of $1.5 million sold to Laurence Graff, the London jeweler, for $5.4 million ($6.1 million with Sotheby’s commission). Warhol himself gave the work to Cathy Naso, who as a teenager in the mid-1960s worked after school in his legendary Factory.

Read more

WAIT BEFORE YOU GO...

This year, the ground feels uncertain — facts are buried and those in power are working to keep them hidden. Now more than ever, independent journalism must go beneath the surface.

At Truthdig, we don’t just report what's happening — we investigate how and why. We follow the threads others leave behind and uncover the forces shaping our future.

Your tax-deductible donation fuels journalism that asks harder questions and digs where others won’t.

Don’t settle for surface-level coverage.

Unearth what matters. Help dig deeper.

Donate now.

SUPPORT TRUTHDIG