On Thursday, Christie’s contemporary art day sale featuring the collection of Morton And Barbara Mandel generated a total of $48.9 million with buyer’s premium across 211 lots, landing below its pre-sale estimate of $60 million and achieving a 73.8 percent sell-through rate. On the heels of Christie’s $119.3 million Hong Kong to New York hybrid auction, this sale brought the total of the 20th Century Week series to $168.2 million.
A bulk of the sale comprised works from the collection of philanthropists Morton and Barbara Mandel, sold to benefit the Mandel Foundation. Represented by the first 82 lots of the sale, together with Picasso’s grey Femme debout (1941) from the Evening sale, the consignment featured works by blue-chip American postwar names. The Mandels acquired most of the works privately but the auction generated a total of $14.8 million. Ad Reinhardt’s Red Painting (1950) was the highest seller of the group, going for $1.05 million. The next top lot from the Mandel selection was Jackson Pollock’s painting Untitled (1953), which sold for $1.5 million.