Sotheby's London Contemporary Art Auction Sets European Record with £130 Million Sale

Sotheby's London achieved a new European sales record on Wednesday 1 July, with its evening Contemporary Art Auction totaling just over £130 million. The event was led by eight works by Andy Warhol, including his 1962 piece One Dollar Bill (Silver Certificate), which sold for £20,869,000, surpassing its £18 million high estimate. However, Francis Bacon's Study for a Pope I from 1961, estimated at £25–35 million, remained unsold as bids did not meet the reserve price. Other notable sales included Francis Bacon's Self-Portrait (1975) at £15,269,000 and Three Studies for Self-Portrait (1980) at £14,709,000. Gerhard Richter's A B, Brick Tower (1987) fetched £14,149,000, while Jean-Michel Basquiat's Orange Sports Figure (1982) sold for £5,637,000. Yves Klein's Untitled Blue Monochrome (IKB 239) from 1959 realized £5,525,000, and Lucio Fontana's Concetto Spaziale, Attese (1964) went for £4,405,000. David Hockney's Arranged Felled Trees (2008) rounded out the top ten at £3,397,000. Additional Warhol works, such as Dollar Signs (1981) at £6,925,000 and Dollar Sign (1981) at £4,685,000, also contributed to the auction's success. The sale highlighted strong demand for contemporary art, with Warhol's dominance underscoring his market appeal.