The Value Of Contemporary Works
Throughout mid May, New York will be flooded with contemporary art lovers and patrons. Here is a quick preview of the auctions.
In many of the upcoming contemporary art sales at both Sotheby’s and Christie’s, there are many pieces coming under the hammer that have been bought in the last decade at record prices.
Gerhard Richter’s ‘Abstraktes Bild’ sold at Christie’s in 2007 for $824,000 and is now being offered in Christie’s upcoming sale in New York with an estimate of $1 – 1.5 million. Another re-sale is that of Roy Lichtenstein’s ‘Still Life with Mirror’ from 1972. The piece was bought in 2007 for $8 million and is now being offered from Philips de Pury with an estimate of $6-8 million. One of the mores surprising items to come to auction is Marlene Dumas’ ‘Evil Eye’ 1995-7. The piece was only purchased in 2009 for $530,000 and is now being offered by Philips de Pury for an estimate of $900,000-1,200,000.
List of the New York Contemporary auctions being held this coming May:
Sotheby’s: Contemporary Art Evening Sale – May 10, 2011
Christie’s: Post-War and Contemporary Art Evening Sale – May 11, 2011
Philips de Pury: Contemporary Art: Part One – May 12, 2011
Contemporary Art: Part Two – May 13, 2011
Posted by, Lauren Guzniczak.