Banks must prove than bigger is better
Roy Lichtenstein’s 1961 painting of a man looking through a peephole sold for $43.2 million last night in New York, one of 13 records set at an auction of contemporary art by Christie’s International. (…) The Lichtenstein, the top lot, was one of 16 guaranteed artworks, 10 of which were backed by third parties, the auction house said. At the equivalent sale in 2010, only seven lots were guaranteed. (…)
The Lichtenstein, from the collection of Courtney Ross, the widow of former Time Warner Chief Executive Officer Steven J. Ross, had a high estimate of $45 million. She was guaranteed an undisclosed minimum price financed by third parties. The painting was acquired at auction in 1988 for $2.1 million.
Lichtenstein’s previous record of $42.6 million was set a year ago for “Ohhh… Alright…” (1964), depicting a sexy redhead on the phone.
