A Picasso masterpiece and a Giacometti statue smashed world records Monday for the most expensive art sold at auction, fetching more than $179 million and $141 million respectively in New York.
It was the highest price for any work of art sold at auction, Christie’s said, but fell short of the $300 million reportedly paid privately by Qatar for Paul Gauguin’s painting “When Will You Marry?” in February.
Other world auction records were set for works by artists Cady Noland, Jean Dubuffet, Diane Arbus, Chaim Soutine and Peter Doig, Christie’s said.
Exponential growth in the art market, particularly for modern and contemporary works, is attributed to a growing number of private investors around the world and burgeoning interest in Asia and the Gulf.
The previous world record for an artwork sold at auction was $142.4 million, set for British painter Francis Bacon’s “Three Studies of Lucian Freud,” which was sold by Christie’s in New York in 2013.
Million-dollar Batmobile replica for sale
2013 LaFerrari officially revealed
Audi unveils flagship RS 7 Sportback
Mercedes CLA revealed
Infiniti coming to Brazil
Renault and Caterham to produce Alpine sports cars
Save and share Picasso sets $179 million auction record in New York
To share this post with your family and friends? Click the button below to send them an email or save this to your favorite social network.