«RED SIGN» OF HELP

Banksy. Keep It Spotless. Great Britain. 2007. Enamle on canvas. 214,0 x 305,0. Estimate $250 000–350 000. Lot sold for $1 870 000. Sotheby's. Red. New York, February 14

On February 14, Sotheby’s auction house in New York held the charitable sales named Red totaled at $42 584 300. It was initiated by Bono, front man of U2 and Damien Hirst, one of the most expensive living artists. The total sum exceeded the preliminary expectations of experts having estimated the lots at $29 000 000.
The sales were benefit performance for Damien Hirst. He was the author of 72 lots. Works most of which he created especially for the auction were sold for $19 000 000.

Locker named «Where There’s a Will, There’s a Way» made of glass and steel with pills used in curing of AIDS patients by Hirst was the most expensive lot. It was sold for $7 150 000 (estimate $5 000 000–7 000 000).

Among the highlights is the second on its high price work named «Love You» by Hirst. It was hammered for $3 300 000. «Bromphenol Red» was one more masterpiece made by Hirst which fetched a doubled price. Estimated at $1 000 000–1 500 000 the canvas (2007) was sold for $2 640 000.

Works by Jeff Koons, the most expensive American contemporary artist succeeded in breaking the hegemony of Hirst in a list of top lots. His serigraphy on steel named «Balloon Rabbit Wall Relief» was purchased for $2 035 000.

New record in price was made by Banksy, London street painter. His work named «Keep It Spotless» which is the version of Hirst’s works with color spots. It was sold for $1 870 000 having exceeded the previous estimate in six times.

Those who took part in the auction had something red in their dresses to explain the name of the sales. Nour, Jordan Queen was in a stunning long red dress. William Ruprecht, the general manager of Sotheby’s auction house demonstrated bright red tie.

All the money gained from the auction will be send to Global Fund to Fight AIDS, Tuberculosis, and Malaria.

Taking into account Bono and Demian Hirst’s wishes Sotheby’s auction house decided to take reduced rate of interest of commission. It was 10% out of the paid price for lot.

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Published in: on March 13, 2008 at 9:29 am  Leave a Comment  
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