Highlights from Christie’s Evening Sale
Despite a wet and gloomy evening in New York, Christie’s auction room was abuzz with energy on Thursday, 21st November. The highly anticipated 21st-century evening sale attracted art collectors and enthusiasts, delivering a night of thrilling bids and notable milestones.
In the spotlight were 42 captivating lots, which collectively achieved an impressive $87.47m (£70.6m), or $106.5m (£86m) with fees. While nearly half the lots were backed by guarantees, two were unexpectedly withdrawn just before the sale – Diane Arbus’s Jewish Giant at Home with His Parents in the Bronx, N.Y., 1970 and Eric Fischl’s The Old Man’s Boat and the Old Man’s Dog. Despite such adjustments, the auction still managed to exceed initial expectations.
Rewriting Records And Setting New Benchmarks
One of the standout features of the evening was the record-breaking momentum for emerging talents and contemporary works. During the opening moments of the sale, four artist auction records were impressively shattered in rapid succession. Firelei Báez’s vibrant 2017 painting, marking the artist’s auction debut, achieved $450,000 (£362,400), or $567,000 (£456,000) with fees, soaring past its modest estimate of $100,000–$150,000.
Hot on its heels was Gone Fishing (2019) by Sasha Gordon, snagging $170,000 (£137,000), or $214,200 (£173,000) with fees – well over its estimated range. This rising star has recently gained notable recognition, joining the prestigious roster of megadealer David Zwirner. Building on this momentum, Denzil Forrester’s Street Music (1989) secured $150,000 (£120,800), or $189,000 (£152,000) with fees, while an untitled sculpture by Ana Mendieta from 1985 sold for $600,000 (£482,000), translating to $756,000 (£607,000) after fees.
Notable Blue-Chip Lots Amid Contemporary Surges
The night wasn’t solely reserved for newer names. Significant interest brewed around Cecily Brown’s The Butcher and the Policeman (2013). After an electric battle involving two in-room bidders and a determined phone bidder, the abstract masterpiece claimed $4.9m (£3.9m) or $5.87m (£4.7m) with fees. Elsewhere, Jeff Koons’s Large Vase of Flowers (1991) fetched $6.6m (£5.3m), or $8.2m (£6.6m) inclusive of fees.
Even though Jean-Michel Basquiat’s untitled 1982 work narrowly missed its lofty $20m-$30m estimate, it was the most valuable lot of the evening. The historically significant work, reminiscent of Basquiat’s societal commentary, realised $19.6m (£15.8m), or $22.9m (£18.4m) with fees, cementing its place as the artist’s most prized piece on paper ever sold at auction.
Balancing Expectations And Trends
Interestingly, while some blue-chip artists fell below expectations, emerging artists continued to thrive. Yayoi Kusama’s Pumpkin (2022), the largest of its kind, sold just shy of its lower estimate at $5.6m (£4.5m) or $6.82m (£5.5m) with fees. Similarly, David Hockney’s Four Empty Vases (1996) found a buyer for $7.1m (£5.7m), aligning tightly within its projected range.
Additional record-breakers illuminated the evening, with Louise Bourgeois’s Les Fleurs (2009) achieving $2.1m (£1.7m), Keith Haring’s Untitled (Hollywood African Mask) (1987) securing $2.6m (£2.1m), and Sarah Sze’s Long Ending (2019) fetching $850,000 (£685,000). Such results underscored the market’s appetite for a blend of accessibility, innovation, and quality, tempering the focus on established heavyweights.
A Market Defined By Thoughtful Competition
Beyond the buzz, the evening painted a broader picture of the market landscape. Buyers demonstrated discernment, favouring competitively priced pieces over splurging on seven-figure trophies. The auction’s solid results cast a notably favourable light, particularly against more modest estimates and the consistent interest in work by younger, contemporary names.
Intriguingly, this year’s 21st-century sale closed almost on par with its 2022 counterpart, despite some unexplored expectations. The art market’s current resilience was further exemplified through standout sales earlier in the week, including Maurizio Cattelan’s $6.2m banana at Sotheby’s and René Magritte’s breathtaking $121.1m masterpiece at Christie’s.
Inspired by the investment potential of contemporary art?
Whether you are captivated by the stories behind the evening’s landmark records or inspired by the investment potential of contemporary art, we are here to guide you. Understanding the complexities and richness of the art market can unlock invaluable opportunities for collectors at any stage. For expert advice and further insights, contact us today. Call +44 58 593 5523, email contact@zurani.com, or visit www.zurani.com to start your art investment adventure. The world of fine art awaits!
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