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As Stocks Slide, Hirst Auction Breaks Records

Posted Sep 16, 08 8:18 AM CDT in Business,  Arts & Living 

(Newser) – Damien Hirst won the biggest gamble of his career at Sotheby's last night—as lot after lot of the artist's work beat high estimates, totaling $127.2 million in sales. While the markets tumbled in New York, bidders in the London saleroom bought up dozens of brand-new Hirsts, from taxidermied animals to abstract paintings, in an auction that could have far-reaching implications for the art world.

As the New York Times reports, Hirst bypassed his dealers in New York and London in order to sell new work directly at auction—thus pocketing a major fraction of the sky-high prices. Hirst put 223 works up for sale, all made in the last 2 years, but fears of flooding the market seem to have been unfounded. The sale continues through today.

Source New York Times

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Media surround a work 'The Incredible Journey' by British Artist Damien Hirst at an auction house in London, Monday, Sept. 8, 2008.   (AP Photo/Sang Tan)
The Golden Calf, a work by Damien Hirst. An embalmed calf with hooves and horns of 18-carat gold titled "The Golden Calf" sold for $18.5 million at Sotheby's auction house Monday, Sept. 15 2008.   (AP Photo)
British artist Damien Hirst poses with his work 'The Incredible Journey' at an auction house in London, Monday, Sept. 8, 2008.   (AP Photo/Sang Tan)
A visitor looks at 'The Dream' by artist Damien Hirst at an auction house in London, Monday, Sept. 8, 2008. The work is to be auctioned in a 'Beautiful Inside My Head Forever' sale on Sept. 15 and 16.   (AP Photo/Sang Tan)
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