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A Week of Warhol = $200,896,500

November 12, 2010 by Marion Maneker

The quantity of Warhol works on the market this past week was fairly astounding. Works ranged from the very top lots of the week at $63m to some remaining five-figure items. Altogether there was more than $200m in Warhol’s work sold at the three auction houses.

That made a lot art market participants nervous judging by their comments coming out of the sales. Here’s Lindsay Pollock:

“We dealers thought: Here were too many Warhols,” said New York-based Christophe Van de Weghe. “But it was the exact opposite effect.”

And Judd Tully:

“There’s a huge demand for Warhol under $10 million, and over that it becomes very selective. Having three high-value Warhols in one week divided the market.”

Interestingly, later works of Warhol — dating from the 70s and 80s, a period in the artist’s career that has gained increased attention over the past year as a result of a recent traveling museum exhibition — performed better, in comparison to their estimates, than mint works from the 60s.

Christie’s, which had the largest number of works, sold everything on hand. Sotheby’s had a higher average price than Christie’s.

But in the day sales the avg. price reversed with Sotheby’s averaging $228,476 and Christie’s averaging $426,761.

Here (Week of Warhol) is a list of all the works on offer this last week sorted from highest to lowest price.

Lichtenstein’s $43 Million Pouting Redhead Brings Market `Back to Health’ (Bloomberg)

Ohhh… Christie’s Mints $273 Million in Contemporary Art Sale, and a Koons Balloon Does Alright (ArtInfo.com)

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Filed Under: Micro-markets Tagged With: Warhol

About Marion Maneker

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