ANDY WARHOL AUCTION RESULTS

Nineteen auction records were set at Christie's contemporary art auction on November 16, 2006. The sale included eight works by Andy Warhol which brought in a total of $59.7 million. The Hong Kong based self-made real estate billionaire Joseph Lau, who ranked 451 on this year's Forbes list of the World's Richest People, purchased a large Mao canvas (1972) from the Daros Collection in Switzerland for $17,376,000 (including a commission of approximately $1 million).

An Orange Marilyn went for $16,256,000 (including commission) to an anonymous telephone bidder, outstripping its presale estimate of $15 million. Another phone buyer purchased a 24 inch square Flowers (1964) for $2,256,600. Sixteen Jackies was sold to Andrew Fabricant of the Richard Gray gallery for $15,696,000 (including commission).

The head of Christie's post-war and contemporary art section, Brett Gorvy, noted that "Warhol's genius hovered over the sale throughout the evening. Never before had a group of Warhol works of this magnitude been presented on one auction and it attracted bidders and buyers from around the globe."

sources:
www.artnet.com/magazineus/news/artmarketwatch/artmarketwatch11-16-06.asp
www.chinadaily.com.cn/china/2006-11/17/content_735517.htm