NEW YORK, NY.- On 1 October 2021, in a historic first for a leading auction house,
Christies accepted live bids in the cryptocurrency Ether, selling the first lot of the Post-War to Present sale, Curio Cards, Full set of 30 cards plus 17b. for ETH393 ($1,267,320). This set of 31 NFTs is considered to be some of the oldest artworks on the Ethereum blockchain. The auction achieved its highest total of $34,409,820, with strong depth of bidding of 145% hammer above low estimate.
The sale, which brought together leading examples of contemporary art, NFTs, and design saw strong participation throughout its entirety. It was led by two abstract paintings from the post-war era, that each sold for $2,670,000; Helen Frankenthalers Warming the Wires, and Philip Gustons The Clock II. Gustons work surpassed its presale estimate of $280,000 350,000 by nearly tenfold, selling for 954% of its low estimate.
Isabella Lauria, Christie's Specialist, Head of Post-War to Present Sale, remarks: The overwhelming success of todays sale is mainly a result of having the privilege of offering top quality artworks at attractive estimates, appealing to clients across the globe and drawing incredible depth of bidding on lots at all price points, as we saw with works by Guston, Benglis and Frankenthaler far exceeding their high estimates and setting new market benchmarks. We are particularly thrilled to have represented the legacy of Ernie Barnes in his long overdue debut on a worldwide sale platform.
Successful results were also seen by Yoshitomo Naras 1, 2, 3
; which was expected to achieve $550,000 750,000, and sold for $2,070,000. The sale saw strong performances by a number of female artists, ranging from the Abstract Expressionists era through the contemporary period. Highlights included Mickalene Thomass Portrait of Aaliyah, which more than doubled its high estimate of $300,000 to realize $625,000; Joan Mitchells Little Rain, which sold for $475,000; Lynda Bengliss Devaux, which achieved $450,000, a new auction world record for the artist, and Yayoi Kusamas Pumpkins which surpassed its high estimate of $1,500,000 to sell for $1,950,000.
The sale was also highlighted by a wonderful group of works by Wayne Thiebaud from the Collection of the Frances Hamilton White Trust. The group was 100% sold and was led by Ridge Valley Farm Study, which totaled $990,000.
A seminal group of works by Charles White and Ernie Barnes from the collection of Hollywood producer Danny Arnold was 100% sold, with strong performances throughout, establishing a new auction world record for Ernie Barnies. Charles Whites Black Man was the top performer of the grouping, selling for $587,500.
New auction world records were achieved by Lynda Benglis, Ernie Barnes, Gary Vaynerchuk, Roberto Fabelo, Dorothy Fratt, and rising contemporary artist Wonder Buhle Mbambo whose work The Hearts sold for over triple its estimate of $30,000 - 50,000 to realize $175,000.
The sale concluded with the conceptual art video NFT White Male for Sale by artist Dread Scott which sold for $32,500 to an online bidder.