Andy Warhol at Christie's New York First sale in the multi-year and multi-platform series to benefit The Andy Warhol Foundation for the Visual Arts, November 12, 2012
Christie’s announces the results of Andy Warhol at Christie’s, the three single-artist sales of Photographs, Prints, and Paintings and Works on Paper held at Christie’s New York on November 12, 2012, to benefit The Andy Warhol Foundation for the Visual Arts. Proceeds from this first auction in a multi-year, multi-platform partnership between the Foundation and Christie’s realized a total of $17,017,050 for the Foundation’s endowment, enabling the institution to ensure and expand its long-term support of the visual arts. The sale achieved sell-through rates of 91% by lot and 82% by value.
Amy Cappellazzo, Chairman, Post-War & Contemporary Development at Christie’s, stated: “Today’s vigorous launch of the Warhol Foundation sales was met with enthusiasm by established and new collectors globally, including successful bidders from mainland China, Russia, the European Union, the Middle East and the Americas. Warhol’s enduring appeal was underscored by a 91% sell-through rate by lot, with Photographs and Prints performing exceedingly well. Today’s sales have set the stage beautifully for the next offering of works from the Collection of The Andy Warhol Foundation for the Visual Arts, which includes a selling exhibition in Hong Kong and the debut of online-only sales in February. The sales today were in our traditional auction channel and proved that our global collector network is the strongest in the art world and we are honored to leverage our standing on behalf of the Warhol Foundation in support of its noble mission.”
ANDY WARHOL (1928-1987)
Endangered Species: San Francisco Silverspot
Estimate: $1,000,000-$1,500,000
Price realized: $1,258,500
Image © The Andy Warhol Foundation for the Visual Arts
Leading the sale of 354 works by Andy Warhol were Endangered Species: San Francisco Silverspot which had an estimate of $1,000,000 - $1,500,000 and sold for $1,258,500, followed by Endangered Species: Bighorn Ram, estimated at $700,000 - $1,000,000 which achieved $842,500, and Jackie, which more than doubled its high estimate of $300,000, realizing $626,500.
ANDY WARHOL (1928-1987)
Endangered Species: Bighorn Ram
Estimate: $700,000-$1,000,000
Price realized: $842,500
Image © The Andy Warhol Foundation for the Visual Arts
Among the diverse expanse of works offered in today’s sale we saw a strong demand for unique photographs and prints with many exceeding high estimates, including Self-Portrait in Fright Wig, estimated at $12,000 - $18,000, which achieved $50,000; Enna Jetticks, estimated at $50,000 - $70,000 which reached $206,500 and Dove, estimated at $60,000-$80,000 and selling for $266,500.
ANDY WARHOL (1928-1987)
Self-Portrait in Fright Wig, 1986
Unique Polacolor ER print, 4 1/4 x 3 3/8 in.
Estimate: $12,000-$18,000
Price realized: $50,000
Image © The Andy Warhol Foundation for the Visual Arts
ANDY WARHOL (1928-1987)
Dove
Estimate: $60,000-$80,000
Price realized: $266,500
Image © The Andy Warhol Foundation for the Visual Arts
Michael Straus, Chairman of the Board of The Andy Warhol Foundation for the Visual Arts, stated: “We warmly welcome the results of this first auction. It has allowed us to increase our grant-making capacity at a time when the arts community needs support and has engaged an ever-expanding audience with the art of Andy Warhol. Andy Warhol at Christie’s has advanced both our philanthropic programs and our work in keeping Andy’s legacy alive.”
ANDY WARHOL (1928-1987)
Jackie
Screenprint on acetate and colored paper collage on board, 21 1/4 x 21 1/8 in., Executed circa 1960s.
Estimate: $200,000-$300,000
Price realized: $626,500
Image © The Andy Warhol Foundation for the Visual Arts
Joel Wachs, President of The Andy Warhol Foundation for the Visual Arts, stated: “This first sale has proved to be a fitting marker for the Foundation’s 25th anniversary year. The new level of global access to Andy Warhol’s work that this series of sales makes possible, along with the bolstering of our philanthropic base, makes this an important moment for the Foundation and indeed for the world of art.”
The November 12 auction was the first of a number of phased sales by Christie’s of works from The Andy Warhol Foundation for the Visual Arts’ collection. Future sales in the series will include online auctions beginning in February 2013 and private sales conducted on an ongoing basis.
The Andy Warhol Foundation for the Visual Arts' website : www.warholfoundation.org
For more information: www.christies.com/warhol
