Tuesday Art Market Report: Richter/Clapton Celebrity Sale Sets Record, Warhol Market Flabby Fearing Foundation Sell-off

by Bill Davenport October 16, 2012

From the Wall St. Journal: Eric Clapton’s  painting by Gerhard Richter, “Abstract Painting (809-4),” sold at Sotheby’s contemporary art evening auction in London on Friday for $34.2 million—more than anyone has ever paid at auction for a work by a living artist . . . meanwhile, pop icon Andy Warhol had a bumpy night. Christie’s refrained from selling any Warhols on Thursday ahead of a sale of roughly 350 works in New York on Nov. 12, part of a plan to sell over 40,000 works belonging to the Andy Warhol Foundation.”

Meanwhile in Dallas, Heritage Auctions  has announced the catalog for its November 15 Texas Art Sale, with disastrous implications for contemporary sculptors: starting prices for the 84 paintings and works on paper range from a couple hundred to a couple thousand dollars; the only two sculptural works  in the sale, by Fort Worth artist Steven Price, are beginning at $1 each.

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