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Warhol painting fetches record £65m

An Andy Warhol painting sold at a New York City auction has set a sales record for works by the famed pop artist.

Sotheby's said Silver Car Crash (Double Disaster) sold for 105 million dollars (£65 million), including the buyer's premium. It had been expected to fetch up to 80 million dollars (£50 million).

The buyer was not immediately identified.

The 8ft by 13ft painting captures the immediate aftermath of a car crash and depicts a twisted body sprawled across a car's mangled interior. The 1963 work has only been seen in public once in the past 26 years.

The previous Warhol auction record was 71.7 million dollars (£45 million), set in 2007.

The sale comes a day after the record was broken for art sold at auction with a Francis Bacon triptych that went for 142.4 million dollars (£88 million).

The previous Warhol record was for Green Car Crash (Green Burning Car I). Another Warhol, Coca-Cola (3), sold for 57.2 million dollars (£35 million) on Tuesday at Christie's auction house.

Over the past 10 days, auction houses around the world have presided over bids totalling nearly 2 billion US dollars (£1.25 billion) for art and jewellery, Sotheby's said. Christie's said Tuesday's sale brought in more than 691.5 million dollars (£431 million), the highest total for any single auction in history.

Buyers from Asia, the Middle East and Russia play a big role in the contemporary art market, said Richard Feigen, an art dealer and collector whose Manhattan gallery has works spanning from the 14th century to contemporary art.

"The demand for seminal works by historical important artists is truly unquestionable, and we will keep witnessing new records being broken," added Michael Frahm, a contemporary art adviser and partner at the London-based Frahm.

"This is the ultimate trophy hunting."


From Belfast Telegraph