Warhol’s Riots to Calder’s Fish Fuel $500 Million Auction

Major works by Francis Bacon, Andy Warhol and Mark Rothko are set to fuel Christie’s auction of
postwar and contemporary art in New York next month with a
target of $500 million.

The 72-lot evening sale on May 13 has at least 10 works
estimated at $20 million or more, according to the privately
held auction house. It will also feature 14 pieces from the
estate of major Chicago art collectors. Christie’s sale last May
tallied a then-record $495 million.

The sale is part of the semi-annual auctions in New York,
considered important barometers of the art market’s health.
Global annual sales of postwar and contemporary art increased by
11 percent in 2013, with a highest-ever auction tally of 4.9
billion euros ($6.8 billion), according to a report published
last month by the European Fine Art Foundation. New York
confirmed its position as the center for the biggest auction

Article source: http://www.bloomberg.com/news/2014-04-23/warhol-s-riots-to-calder-s-fish-fuel-500-million-auction.html

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