NEW YORK, NY.- Artsy today announced that Julie Mehretus recently completed monumental painting titled Dissident Score (201921) sold for US$6.5 million*far in excess of its pre-sale high estimate of US$4 million (estimate: US$34 million)setting a new record for the artist at auction. All proceeds from the sale will benefit the Art for Justice Fund and directly support artists, advocates, and organizations working to end mass incarceration.
Dissident Score saw competition from six active bidders hailing from Asia, Europe, and North America, and finally sold to a private collector for $6.5 millionfar exceeding the artists prior auction record. The price achieved also represents the highest-value artwork ever sold on Artsy and achieved a new record total for an auction staged on the marketplace.
Commenting on this extraordinary sale, Dustyn Kim, Artsys Chief Revenue Officer, said: This monumental sale on Artsy represents the most expensive artwork sold on our platform in company history and on any online-only marketplace. It joins an ever-growing number of works weve sold in the seven-figure price range, and it set a new record for the artist at auction as well as a record auction total for our marketplace. For over a decade Artsy has been at the forefront of shifting buyer and seller psychology to adopt the online space, in particular since the pandemic. These results firmly position Artsy as the leading and largest global online marketplace for sourcing unique artwork of the highest quality by blue-chip artists, and for attracting experienced collectors to acquire sight-unseen fine art in the seven-figure price range with trust and click-of-a-button ease. All the more significant is that the funds go to Art for Justice.
Kim continued: At Artsy, we strive to support philanthropic efforts, art, and artists that champion inclusivity, equity, and diversity, and we pride ourselves on leveraging the power of our brand to make the art world more inclusive. Our ability to authentically reach art lovers around the world has enabled us to make this sale quickly and dynamically, and we are humbled to celebrate this moment with Art for Justice and Julie Mehretu while solemnly recognizing the gravity of the cause we are grateful to help support.
Artist Julie Mehretu said: Ever since I was a young child, the idea of prison was horrifying. I was devastated to see the criminalization of people through punitive structures and systems. Friends of mine would end up in jails or prisons in Michigan. It was a terrifying reality. We understood even as young people what that meant and who was at risk. When I moved to New York City and first witnessed police brutality, I saw the terrifying extent of the abuse and disenfranchisement. When I paint, its a deep gesture of imagination, invention, and of trying to find liberation. I wanted to leverage the commodification of works of art, a commodification thats tied to the history of Blackness, and an insistence on power and agency, despite commodification. A work of art can be transformative. I wanted to make something substantial, and something that encapsulated the challenges of our reality.
Mehretu continued: The racism of the criminal justice system is unconscionable, and were all complicit. That is the contradiction that I live and create in, and these works become their own kinds of commodities, but my insistence is also for their capacity to do something else. Our resources and collective effort should be used to create a different kind of world and radically reimagine how we live and care for one another. What I love about the Art for Justice Fund is this desire of invention and bringing together artists, thinkers and performers to contribute to the visionary possibilities for justice.
Agnes Gund, founder of the Art for Justice Fund, commented: Julie Mehretu has dedicated her lifes work to boldly exploring social, cultural, and political issues. She encourages us to radically imagine communities where safety is shared and justice is true. Her tremendous generosity will help our growing community of artists and advocates accelerate the work to end mass incarceration.
Helena Huang, project director of the Art for Justice Fund, said: Now is the time, politically and culturally, to shift the legal system in ways previously thought unimaginable. Julies gift will enable us to invest in the artists and advocates who are creating and executing new visions for shared safety.
By the Numbers
$6.5 million sum achieved represents a new auction record for the artist;
The sum also represents the highest-value work of art sold on Artsy, demonstrating Artsys ability to sell blue-chip art sight unseen for seven-figure sums;
Pre-sale, 150 collectors expressed interest in placing a bid;
6 active bidders competed for the work and hailed from Asia, Europe, and North America;
The sale total also represents the highest-grossing auction on Artsy;