S. I. Newhouse Sale Nets $630.8 M., Bringing Cumulative Total to $1 B.

Christie’s launched a large-scale evening auction in May this year, selling 16 works from the collection of media giant SI. Newhouse.

The auction included top-notch works by Constantin Brancusi, Jackson Pollock, Andy Warhol, Piet Mondrian and Pablo Picasso, with a total turnover of US$630.8 million including commissions. It also set several records.

The sale brings the cumulative total of works from the Newhouse Collection to more than $1 billion, following one work in 2018 that sold for $21.7 million, 11 works in 2019 that sold for $216 million, and 16 works in 2023 that sold for $178 million. Monday’s volume far exceeded the rest of the lot, no doubt due to the truly top-notch material in the sale, which included what Christie’s said was the largest Pollock drip painting still in private hands.

Pollock, titled No. 7A, 1948 (1948), attracted the largest number of bidders, with more than 60 bidders and no fewer than five people participating in the 10-minute bidding war. The painting was eventually sold to a buyer represented by Christie’s global president Alex Rotter for $181.2 million, more than double Pollock’s record of $61 million set at Sotheby’s New York in 2021. The painting is now one of the most expensive works of art ever sold at auction.

Brancuşi also set a record called Danaid, A bronze head dating to ca. In 1913 the work attracted less intense bidding and was sold after only six bids. Still, with a starting bid of $82 million, higher than Brancusi’s 2018 record of $71.2 million at Christie’s New York, the sculpture will almost certainly set a new high-water mark.

Other works in the sale also performed well, although not with the same fireworks effect as the Pollock. Picasso’s paintings woman’s head The sale price was US$14.4 million, well above the high estimate of US$8 million, and the sculpture of the same name Tête de femme (Fernand) It was valued at $40 million to $60 million, including fees, at $48.4 million. Joan Miró’s paintings Portrait of Mrs. K. Total $53.5 million, with estimates of $25 million to $35 million, while Jasper Johns gray target Net profit was expected to be $28.8 million, with estimates of $20 million to $30 million.

All in all, Christie’s is off to a banging start this week.