Warhol Painting Fetches Record $105M At Auction

By: CBS/AP Posted By: Stephanie Schultz
By: CBS/AP Posted By: Stephanie Schultz

NEW YORK, NY (WIBW) - A prized 1963 Andy Warhol painting that captures the immediate aftermath of a car crash sold for $105 million Wednesday at a New York City auction, setting a record for the famed pop artist, Sotheby's said.

The 8- by 13-foot painting titled "Silver Car Crash (Double Disaster)" depicts a twisted body sprawled across a car's mangled interior. It has only been seen once in public in the past 26 years. The buyer wasn't immediately identified.

The previous Warhol auction record was set in 2007 when "Green Car Crash (Green Burning Car I)" sold for $71.7 million. An iconic Warhol called "Coca-Cola (3)" sold for $57.2 million Tuesday at Christie's auction house.

The high bidding came just a day after the most expensive work of art ever sold at auction went for $142.4 million to conclude six minutes of feverish bidding at Christie's. The hefty price tag for a 1967 Francis Bacon triptych called "Three Studies of Lucian Freud" shattered the previous world record - nearly $120 million paid for Edvard Munch's "The Scream" at a 2012 Sotheby's sale.

Christie's said the winning bid went to Acquavella Galleries. It is believed that the New York City gallery was buying it for an unidentified client.

Buyers from Asia, the Middle East and Russia play a big role in the contemporary art market, said Richard Feigen, an art dealer and collector whose Manhattan gallery, Richard L. Feigen & Co., has works spanning from the 14th century to contemporary art.

"The demand for seminal works by historical important artists is truly unquestionable, and we will keep witnessing new records being broken," said Michael Frahm, a contemporary art adviser and partner at the London-based Frahm Ltd. "This is the ultimate trophy hunting."

Christie's said Tuesday's sale brought in more than $691.5 million, the highest total for any single auction in history.


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