'Contemporary Curated' Sale in New York Totals $26.2 Million
56.1% of Lots Achieve Prices Above the High Estimate
14 Auction Records Established
NEW YORK, March 3, 2017 /PRNewswire/ -- Sotheby's spring season of contemporary art auctions began yesterday in New York with Contemporary Curated achieving $26,187,625, above the $16.4/23 million pre-sale estimate. The sale was led by Ed Ruscha's Broken Pencil, which nearly tripled its high estimate of $450,000 to sell for $1.3 million, and Gerhard Richter's Abstraktes Bild (843-4) from the collection of Ed Cohen and Victoria Shaw that sold for $1.2 million, above the $800,000 pre-sale estimate.
Tad Smith, Sotheby's President & CEO commented: "Our New York Contemporary Curated Sale caught a wave of buying interest due to its clever marketing and outstanding consignments. We are thrilled with the team and further encouraged for next week's major contemporary sale series in London."
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*Estimates do not include buyer's premium. Prices achieved include the hammer price plus buyer's premium and are net of any fees paid to the purchaser where the purchaser provided an irrevocable bid.
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