The Post-War and Contemporary Art sale held at Christies
on 3 June achieved a total of 8,179,625/£7,057,485/$9,979,278 selling 85% by lot and 91% by value. The top lot of the sale was a painting by Chu The-Chun, Le 14.8.1978 which sold for an impressive 620,000, more than doubling its presale estimate.
Joséphine Wanecq, Head of the sale: We saw strong results achieved today, far above their presale estimates such as for Asian contemporary artists like Chu The-Chun with a remarkable result, but also for Zao Wou-Ki which painting from 1962 realised 212,500. French artists also performed very well as seen with the result obtained by Pierre Soulages' Brou de noix, 65 x 50 cm, 1958 sold 500,000, Jean Dubuffet, as well as Christo for whom international collectors paid tribute today. We are pleased to see that a healthy and strong market is back in place in Paris. We are looking forward to our next sales on 30 June which will be part of a series of auctions between Paris and London.
Further highlights included a beautiful painting by Josef Albers which achieved 375,000, realising the third highest price of todays sale. Hans Hartung was also well represented with 4 works including the bright and colourful T1950-14 which was sold 312,50. Additional great prices were reached by Augustín Cárdenas with his spectacular wooden sculpture Les amoureux which sold for more than 3 times its high estimate at 243,750, Maria Helena Vieira da Silva whose work Echiquier rouge ou Joueurs déchecs was sold for 287,500 and A. R. Penck with his very large painting Konzept which realised 250,000.
Finally, the auction also included Street Art with two works by Invader which sold respectively for 20,000 and 18,750 against a presale estimate of 6,000-8,000 for both Invasion Kit and Keith Haring with A ridiculous bird for Debra from 1989 which sold for 25,000.