Sculptures by David Smith set records at Sotheby’s

David Smith. Cubi XXVIII. 1965. Sold for a record $23.8 million

A Sotheby’s auction of contemporary art which took place in New York on Wednesday, November 9, totaled stunning $114.5 million. The important sales featured fifty four contemporary art works.

A large-scale metal sculpture by American artist David Smith became the most expensive work of contemporary art ever sold at auction. The sculpture «Cubi XXVIII» (created in 1965) managed to fetch staggering $23.8 million. Five buyers competed for Smith’s masterpiece, and after fierce bidding the sculpture was finally sold to a Manhattan dealer Larry Gagosian at nearly twice its high estimate of $12 million.

Experts attributed the record price to the fact that most of Smith’s works are in museums or permanent collections and therefore make extremely rare auction appearances. «This exceedingly rare work was the pinnacle of a four-decade career», said Tobias Meyer, Sotheby’s worldwide head of contemporary art and the auctioneer for the evening.

The second best price of the evening was the $9.2 million paid for «Jackie Frieze», one of two works in which Andy Warhol assembled portraits of Jackie Kennedy in a frieze format.

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Published in: on November 11, 2005 at 4:49 am  Leave a Comment  
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