LONDON, WEDNESDAY 15 FEBRUARY, 2012 - London's Contemporary Art Evening Auction realised the exceptional total of £50,688,450/ $79,672,106/ €60,719,674, surpassing pre-sale high expectations (est. £35.8-49.7 million*). The auction established extremely strong sell-through rates of 90.5% by lot and 94.6% by value, and saw two artist records at auction set for A. R. Penck and Albert Oehlen. Buyers from 20 countries participated in the auction, which also witnessed 9 works sell for over £1 million, and 21 lots sell for over $1 million.
Following last November’s auction record for a work by Gerhard Richter, the top-selling lot of tonight’s sale was Abstraktes Bild (numbered 768-4) - one of the most vivid and commanding works from the artist’s cycle of abstracts executed in 1992 - which sold for £4,857,250/ $7,634,626/ €5,818,498, exceeding its pre-sale high expectations (est. £3-4 million). The work appeared at auction for the first time this evening.