German Contemporary Art Dominates London and New York Auctions

The October auctions held by Phillips, Sotheby's, and Christie's in London showcased the market's strength following the Frieze cancellations. While Christie's and Sotheby's combined their offerings of modern and contemporary art, Phillips concentrated solely on contemporary pieces. German contemporary art performed exceptionally well, highlighted by Gerhard Richter's work fetching £5,138,700 at Sotheby's, Sigmar Polke's at £1,087,693, and Georg Baselitz's at £1,762,500 at Christie's. At Phillips, Albert Oehlen's 'Control' (2007) and 'Die Veränderungen' (2005) sold for £475,000 and £809,000, respectively, while Sotheby's sold 'Untitled' (2004) for £801,500. Markus Lüpertz's 'Arrangement for a Cap I – dithyrambic' (1973) reached £300,000, and Daniel Richter's 'Tarifa' (2001) set a record at £1,162,500. On October 28, Sotheby's New York saw Richter's 'Abstraktes Bild' (1989) sell for $4,604,899.