Friday, November 15, 2013

Andy Warhol Painting Sets Record

Crazy money for an Andy Warhol work. I guess art remains the only recessionproof investment.

Via NY Post:
Andy Warhol's “Silver Car Crash (Double Disaster)” sold for a $105.4 million during an auction at Sotheby’s on Wednesday. The painting, which shows a series of images depicting a mangled car wreck, set off a feverish bidding frenzy at the Contemporary Art Auction. The 1963 work smashed the pop artist’s previous record of $71.7 million set in 2007 for his painting “Green Car Crash (Green Burning Car I).” The 8- by 13-foot Warhol piece has only been seen once before in public in the past 26 years. The buyer of the work was not immediately identified by Sotheby’s. Warhol’s record came one day after the most expensive art work ever to be auctioned off was sold at Christie’s when Francis Bacon tryptic “Three Studies of Lucian Freud” sold for $142.4 million.

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