Colin Gleadell points out at that this Damien Hirst painting in Sotheby’s day sale has an interesting back story:
A painting by Damien Hirst which was bought at the groundbreaking Beautiful Inside My Head Forever sale at Sotheby’s just over a year ago, when Hirst bypassed his dealers to sell directly through auction, is to be offered by Sotheby’s in New York next week. Fun Lovin’, is one of Hirst’s trademark butterfly paintings in which a number of butterflies have been placed on a pinkish monochrome background. Last year, it sold for £409,250, far above the £250,000 estimate. Next week, it is to be reoffered with an estimate of $450,000 (£275,000).
Not much change there, except that it does mean the owner is prepared to accept a significant loss. The sale comes as speculation mounts as to how many works in the £111million sale have actually been paid for. Sotheby’s extended generous credit terms of up to a year to some buyers, but a small number of sales are still awaiting settlement. Whether Fun Lovin’ is one, Sotheby’s is not prepared to say, citing “client confidentiality”.
Art Market News (Telegraph)
