Warhol's Coke bottle caps $222m Pop Art auction
The New York art market continued a run of soaring prices after a distinctive Andy Warhol Pop Art painting broke its estimated sale price and sold for $33.4m (£20.7m).
Coca-Cola (4) (Large Coca-Cola), part of a series of works completed by Warhol between 1961 and 1962, helped Tuesday night's sale of contemporary art at Sotheby's to reach a recession-defying total of $222.45m.
Works by Mark Rothko, Roy Lichtenstein and Willem de Kooning also sold for high prices. The sales follow last week's record-breaking auction of a nude by Amedeo Modigliani, 1917's La Belle Romaine, which raised $68.9m (£42.8m). Another nude, a 6ft bronze sculpture by Matisse, recently fetched $48.8m (£30.3m) at Christie's – again, the highest amount ever paid for the artist's work.
"Two things were going on this evening: the iconic classical market and the young market," said Tobias Meyer, the worldwide head of contemporary art at Sotheby's. "Both benefited from the great depth of bidding in our sale, and resulted in a very strong total. Most of the bidding was from very smart collectors, some who were long-time [collectors] and others who were new sophisticated entrants from the global community."
The Warhol buyer was not recorded, but it was sold by the collector Elizabeth Rea, who purchased the painting with her late husband, Michael, at Christie's in 1983 for $143,000, according to The New York Times. The record for a Warhol was set at Christie's New York in May 2007 for 1963's Green Car Crash (Green Burning Car I), which sold for $71.7m.
Other Warhol works sold on Tuesday included The Last Supper ($6.8m) and 1978's Shadows, which sold for $4.2m.
game of thrones reviewWarning: spoilers
North London meets The Exorcist in eerie suburban drama
Filming to begin on two new series due to be aired on Dave from next year
Arts & Ents blogs
- 1 Lucy Hawking: Stephen Hawking's daughter writes impassioned open letter to Katie Hopkins about rights of disabled people
- 2 How the language you speak changes your view of the world
- 3 Russell Brand backs Ed Miliband: 'You gotta vote Labour'
- 4 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
- 5 Uploading pictures to find out how old you are gives Microsoft the right to post them wherever they want
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
In defence of liberal democracy
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils