Sotheby’s Tallies $362.6 M. at Strong Contemporary Sale, Setting Records for Jacob Lawrence, Henry Taylor, More
Art Business

Sotheby’s Tallies $362.6 M. at Strong Contemporary Sale, Setting Records for Jacob Lawrence, Henry Taylor, More

Jacob Lawrence’s The Businessmen, 1947, sold for $6.17 million, a new record for the artist at auction. COURTESY SOTHEBY’S In a packed salesroom in New York on Wednesday evening, Sotheby’s expertly delivered a spot-on and smoothly choreographed contemporary art sale that tallied up $362.6 million. That figure, which includes buyer’s premiums, roared close to the high end of presale expectations, which were pegged at $278.4 million to $375.9 million. (Estimates do not reflect buyer’s premiums.) The result easily hurdled past last November’s $310.2 million haul across 69 sold lots, a result led by Francis Bacon’s triptych Three Studies of George Dyer (1966), which made $38.6 million. Only two of the 65 lots offered failed to sell tonight, for a petite buy-in rate by lot of 3 percent, and 59 of the 65 lots offered sold for over a million dollars. Of those, seven exceeded $10 million, and two shot past $20 million. Four artist records were set, for Henry Taylor, Jacob Lawrence, Dana Schutz, and Jack Whitten. Guarantee-wise, two lots carried standalone house guarantees, and 33 were backed by irrevocable bids placed by third parties. All reported prices include the hammer price plus the buyer’s premium, calculated at 25 […]

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