The salesroom at Christie’s was bustling with activity as spectators eagerly awaited the multimillion-dollar artworks up for auction. Despite concerns about a recent cyberattack on the auction house, the evening’s auctions proceeded smoothly under the guidance of auctioneer Georgina Hilton. The auctions featured works from the estate of collector Rosa de la Cruz and Christie’s seasonal 21st-century evening art sale, showcasing a range of valuable artworks. Despite the challenges faced by the auction house, there was a depth of bidding that indicated a successful evening ahead.
However, the final results told a different story. Christie’s lagged behind its competitor, Sotheby’s, with a total of $115 million compared to Sotheby’s $267 million. The discrepancy was partly due to last-minute withdrawals, including a high-value piece by Brice Marden which was pulled from the auction. Withdrawals can occur when sellers have cold feet due to a perceived lack of interest from potential buyers. Despite these setbacks, the Rosa de la Cruz collection still performed well, achieving $34.4 million, near its high estimate.
The auctions at Christie’s continued despite the cyberattack that had affected the company’s website. Some registered bidders were able to participate through a secure link, accessing Christie’s LIVE digital platform. The auction house made efforts to secure guaranteed bids from collectors and investors in advance, ensuring that all the works in the de la Cruz collection would sell, even without active bids. CEO Guillaume Cerutti expressed satisfaction with the participation in the auctions, praising the successful resolution of the technological challenges.
Key highlights of the evening sales included record-breaking bids for works by artists Ana Mendieta and Felix Gonzalez-Torres. Mendieta’s “Untitled (Sandwoman Series)” sold for $567,025, surpassing previous auction benchmarks for the artist. Gonzalez-Torres’ “Untitled (America #3)” fetched $13.6 million, exceeding its high estimate and setting a new record for the late artist. The auctions also featured works by other notable artists favored by de la Cruz, indicating ongoing success in the market for these pieces.
Earlier on the same evening, Phillips held its own sale of modern and contemporary art, generating $86 million in total sales. The highlight of the evening was the sale of Jean-Michel Basquiat’s “Untitled (ELMAR),” which fetched $46.5 million. The painting, sold by a trust associated with collector Francesco Pellizzi, exceeded expectations and added to the success of the evening sales across various auction houses. Despite the challenges faced by Christie’s and other auction houses, the art market continues to demonstrate resilience and impressive results in the face of adversity.
