Post-War and Contemporary Art Evening Auction

On 11 February, Christie’s Post-War & Contemporary Art evening auction realised a total of £117,142,500 / $178,408,028 / €157,556,663 selling 95% by value with outstanding sell-through rates. The top price of the evening was paid for Cy Twombly’s Untitled (New York City), which sold for £19,682,500 / $29,976,448/ €26,472,963. This result follows the record-breaking sale of one of Cy Twombly’s blackboards which sold for $69.6 million at Christie’s New York in November 2014. 3 record prices were set during tonight’s auction including for Paolo Scheggi, Howard Hodgkin and Theaster Gates.

Francis Outred, International Director and Head of Post-War & Contemporary Art, Christie’s Europe: London has seen stellar evening sales for Post-War and Contemporary Art in the last few years – the Christie’s June 2012 record of £132million in a single night has never been beaten. In that spectrum, our sale stands out as a great result, a huge success. The interest in contemporary art has grown enormously, but at a rate that is sustainable. No bubble produces bidders from 40 countries and six continents for such a diverse range of works. I am particularly proud that in the week of Richter’s 83rd birthday, one of his greatest paintings - of Lake Lucerne - a place so close to his heart, was so sought after. After Twombly’s record price was set in New York at $69.6 million in November 2014, the second highest price for his work was set tonight, here in London. We are looking forward to the Post-War and Contemporary Art Day Auction taking place tomorrow, 12 February, at 1pm.