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The Market Goes Deep in London

February 16, 2012 by Marion Maneker

Judd Tully gives a little depth on Phillips de Pury’s £5.7m London sale:

Only one work sold for over a million pounds and that was Lucio Fontana’s slashed canvas “Concetto Spaziale, Attese” in virginal white from 1960, which sold to an anonymous telephone bidder for a little over £1 million ($1.7 million) (est. £1-1.5 million/$1.6-$2.4 million). The most remarkable thing about the Fontana is that it was once owned by Andy Warhol and sold back at Sotheby’s New York in May 1987, shortly after the artist’s death following gallbladder surgery for a minute $132,000 figure.

Meanwhile, Scott Reyburn gets this eyebrow-raising quote:
“Prices are strong,” the Paris-based collector John Sayegh- Belchatowski said. “The market is deep, not like the fantasy of 2007,” said Sayegh-Belchatowski, who was outbid on the two lots he hoped to buy.

Phillips de Pury’s Petite London Sale Scores $9 Million, Buoyed by Andy Warhol’s Fontana (ArtInfo)

Andy Warhol’s Slashed Fontana Painting Boosts $9 Million Auction in London (Bloomberg)

More from Art Market Monitor

  • Phillips de Pury Cont Day = £4.123m ($6.39m)Phillips de Pury Cont Day = £4.123m ($6.39m)
  • Phillips de Pury London Cont Eve = £23.376m
  • Phillips de Pury London Cont = £5.7mPhillips de Pury London Cont = £5.7m
  • Phillips de Pury London Contemporary Evening =£8.25mPhillips de Pury London Contemporary Evening =£8.25m
  • Don't Worry About Phillips SaleDon't Worry About Phillips Sale
  • Phillips de Pury's Pinched SalePhillips de Pury's Pinched Sale

Filed Under: Auction Results Tagged With: Contemporary, London, Phillips de Pury

About Marion Maneker

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