The Gunther Sachs Collection Auction Exceeded Expectations at Sotheby’s
Posted May 24th, 2012 | by The Update
Following the record-breaking success of the auction for Munch’s “Scream,” the highly-acclaimed Sotheby’s Auction House has had yet another tremendously successful art auction.
The avant-garde collection of art, objects and furniture from visionary art collector Gunter Sachs shattered pre-sale estimates during the London Evening Auction. The auction achieved an impressive total of £35.6 million (US $ 56.4 million) with over 90% of lots sold, 73% in excess of their pre-sale high estimates.
From Reuters: One of Andy’s Warhol’s last self-portraits was the top selling item in a two-day sale in London of about 300 paintings, photographs and furniture from the collection of billionaire Gunter Sachs, which totaled more than $65.5 million.
“Self Portrait (Fright Wig), done by Warhol in 1986, sold for almost $8.5 million, more than double its pre-sale estimate, Sotheby’s said on Wednesday.
Another Warhol work, “Flowers,” which had been in the collection since it was purchased in 1979, fetched nearly $6 million.
“Gunter Sachs’ standing as a 1960s and 1970s taste-maker was evident from the announcement of the sale through to its conclusion this afternoon,” said Cheyenne Westphal, chairman of contemporary art Sotheby’s Europe. “Clients from across the globe responded enthusiastically to Gunter Sachs’ resonance as aesthete seen in the fact that bidders in the evening auction came from 17 countries across four continents.”
Click here to read the full article from Reuters.
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