London Frieze Week Auctions: Christie's and Sotheby's October 2022 Results

During Frieze Week in London, Christie's and Sotheby's held major evening sales. Christie's 20th/21st Century sale totaled £72.5 million, led by David Hockney's 'Early Morning, Saint-Maxime' at £20.9 million (with premium), doubling its estimate. Gerhard Richter's 'Wolkenstudie (grün-blau)' sold for £11.2 million, and Francis Bacon's 'Painting 1990' for £7.1 million. Christie's also offered 'A place with no name: works from the Sina Jina Collection', achieving £3 million, with Lynette Yiadom-Boakye's 'Highpower' at £1.5 million. Sotheby's combined 'The Now' and 'Contemporary' sales reached £96.1 million, the highest since 2015. 'The Now' featured Banksy's 'Love is in the air' at £3.5 million and Flora Yukhnovich's 'Nobody Puts Baby in the Corner' at £1.6 million. The 'Contemporary' sale included Francis Bacon's 'Three Studies for Portrait of Henrietta Moraes' at £24.3 million (below estimate), Gerhard Richter's '192 Farben' at £18.3 million, and a record for Frank Auerbach at £5.6 million. Six new artist records were set: Frank Auerbach, Caroline Walker, Caroline von Heyl, Louise Giovanelli, Julien Nguyen, and Kiki Kogelnik. 90% of Sotheby's lots were fresh to auction. Christie's noted 21% of new bidders were millennials.