After A Three-Way Bidding War This Warhol Self-Portrait Just Sold For $27.5 Million

andy warhol

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Tonight Christies put 65 lots of contemporary art on the chopping block.A series of four blue-self portraits by Andy Warhol sold for $38.4 million, the WSJ reported.

And “a huge Andy Warhol self-portrait showing the artist in a spiky wig,” which fetched $27.5 million, Bloomberg said.

There were three bidders after the 9-foot-square portrait.

Famed Warhol collector Jose Mugrabi won. Larry Gagosian was one of the losers.

There were actually 8 Warhol pieces in the auction, and they all sold the WSJ reported.

The highlight of the night however, appears to have been a Mark Rothko painting called “Untitled No. 17,” which hasn’t been seen in public since 1965.

The painting sold for $33.7 million, and was predicted to fetch around $22 million.

“Untitled No. 17,” which Rothko completed in 1961, “is one of 10 of his paintings discovered since the publication of the artist’s catalogue raisonne in 1998,” Bloomberg said.

Other highlights from the auction, according to the WSJ:

  • A 1974 Francis Bacon sold for $25.2 million.
  • Cy Twombly’s 1967 “chalky blackboard abstract sold for a record $15.2 million”
  • A Richard Diebenkorn abstract from 1980 sold for $7.6 million. 
  • An Alexander Calder that had sold for $651,500 in ’97, sold for $2.8 million tonight.

One disappointment — Wall Street favourite, Richard Prince. His “Pro Street” sold for less than it was bought for five years ago.

Which hedge fund manager earned $55 million from the contemporary art auctions in May?