NEW YORK — In 1985, dealer Tony Shafrazi designed a poster promoting his show of paintings made jointly by Andy Warhol and Jean-Michel Basquiat. The image featured the two artists in boxing gloves as if preparing to spar with each other.
“There’s been a huge amount held back for two years, and there’s a huge amount of pent-up demand from new clients,” said Philip Hoffman, founder of The Fine Art Group, a New York-based advisory company, adding that the upcoming auctions could raise as much as $2 billion. “Everyone was waiting for the right moment, and the right moment has come.”
The painting was in the collection of Swiss dealers Thomas and Doris Ammann, and the proceeds from Monday’s sale of 36 works will go to their foundation, which supports children’s programs. In an unusual arrangement, the buyer will have a say in choosing which charity that 20% of the proceeds are allocated, Christie’s announced Sunday.
Striking for its bright-blue eye shadow, yellow hair and red lips, the work had been exhibited at institutions including the Guggenheim in New York, the Centre Georges Pompidou in Paris and Tate Modern in London.
I wonder 🤔 Russians are bidding on this? Not long ago there was many fast bidding between private Russian collectors & art dealers (before Ukraine/Putin’s latest war). Money laundering & artificially increasing prices of arts & antiquities, so no other bids can afford bidding.
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