Christie's New York auctions fall short of expectations amid cyberattack

Christie's New York spring auctions, part of the so-called 'gigaweek' with over $1 billion in offerings, underperformed on May 14, 2024. The evening totaled $114.7 million across two sales, well below pre-sale estimates. A cyberattack on May 9 forced Christie's to set up emergency infrastructure to keep bidding live and online. The Rosa de la Cruz collection sale generated $34.4 million, led by Felix Gonzalez-Torres's 'Untitled (America #3)' at $13.6 million, a new auction record, bought by the Pola Museum of Art in Hakone, Japan. Ana Mendieta also set two records: 'Silueta Works in Mexico' at $277,200 and 'Untitled (Sandwoman Series/Serie Mujer de Arena)' at $567,000. The 21st Century Evening Art sale totaled $80.3 million, below the $100 million-plus estimate, partly due to the withdrawal of Brice Marden's 'Event' (2004-07), estimated at $30-50 million, which was guaranteed by Christie's and passed to François Pinault's collection. Christie's stated the withdrawal was their decision to protect Marden's market. Top lot was Jean-Michel Basquiat's 'The Italian Version of Popeye has no Pork in his Diet' at $32 million. New records were set for Diane Arbus ($1.2 million for 'Identical Twins'), Reggie Burrows Hodges ($882,000), and Martin Wong ($1.6 million).