Christie’s ‘First Open’ Sale Nets $11.2 M. With Strong Online Presence

Michael Krebber, Untitled, emulsion paint and acrylic on canvas, 1999.

Michael Krebber, Untitled, emulsion paint and acrylic on canvas, 1999.

Yesterday Christie’s First Open NYC live auction brought in over $11.2 million across 203 lots, with a 70 percent sell-through rate by lot. The 86 unsold lots remain available online until September 30.

The auction set record sales for Cheyney Thompson and Michael Krebber. Thompson’s 2006 Untitled, estimated at $5,000-7,000 and Krebber’s 1999 Untitled, estimated at $7,000-9,000, sold far beyond expectations, at $40,000 and $52,500, respectively.

Christie’s live auction kicked off with THIS IS NOW, a selection of works from the collection of George Hartman & Arlene Goldman, which brought in $2,203,625 alone, with strong prices achieved for artists such as Joe Bradley, Mark Bradford, and David Ostrowski. Marina Abramovic’s Thomas Lips, was also a highlight, selling for $112,500, almost 5 times its presale estimate.

The auction was significant in part for the strong online participation it generated. In total, 22 percent of all lots were bought or directly underbid online.

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25 September 2014 | 3:12 pm – Source: artnews.com

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