Crystal Bridges Announces Purchase of Record Felix Gonzalez-Torres on Instagram

New Acquisition: “’Untitled’ (L.A.)” (1991) by Felix Gonzalez-Torres invites the public to become part of the work. Small, green candies wrapped in cellophane are spread across the gallery floor so that viewers may touch, take, and consume the work, which can be endlessly replenished. The work will debut in the coming months. Learn more with the link in our bio. #CrystalBridges #NewAcquisition #FelixGonzalezTorres #?

A photo posted by Crystal Bridges Museum (@crystalbridgesmuseum) on Nov 16, 2015 at 12:54pm PST

Colin Gleadell adds some details to this history of this sale:

In 1998, the installation, which has been interpreted as a metaphor for drawn out death, sold to the Dallas collector, Howard Rachofsky, for £106,000. Last week he sold it at Christie’s where the Crystal Bridges Museum for American Art in Arkansas, founded and supported by billionaire Alice Walton, paid a record $7.7million (£5.1 million) for it, representing a 4,691 per cent increase or an average 25.6 per cent gain each year since he bought it.

Market News: Sotheby’s bares all (Telegraph)