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Wednesday, July 11, 2012

Record prices for Warhol, Twombly, Lichtenstein and Gerhard Richter at Sotheby's Contemporary Art Evening Auction

The Contemporary Art Evening Sale brought a strong total of $266,591,000, well within the $216/304 million pre-sale estimate and with 81% of lots sold.

Tobias Meyer, this evening’s auctioneer and Sotheby’s Worldwide Head of Contemporary Art, said: "We are thrilled with tonight's total of $266 million, and especially with the results achieved for our top four lots, which set a record for Roy Lichtenstein, one of the strongest prices for Andy Warhol in some time, and a record for Cy Twombly. The top end of the market performed beautifully this evening due to a global demand for masterpieces that is almost unparalleled, and we saw a remarkable depth of bidding between $30-40 million."

A fabulous Francis Bacon and truly stunning Gerhard Richter were up for bid this evening - making the auction a true delight for all with a fabulous pre-sale margin that only Sotheby's seems to able to command. - Ecomanta