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Hirst Auction Yields $199M

Dealer-less London sale smashes records

By Nick McMaster, Newser Staff

Posted Sep 17, 2008 4:50 PM CDT

(Newser) – Damien Hirst sold 223 pieces of artwork for $199 million by the end of a two-day auction yesterday, shattering the record for most revenue in an auction of a single artist’s work, Forbes reports. The previous mark was held by Pablo Picasso, with 88 sold for $20 million in 1993. Hirst himself set a target of $116 million.

After Sotheby’s commission and $6.2 million in charitable contributions, Hirst pocketed $172 million from the sale. The most expensive piece, “The Golden Calf,” a 20-ton calf suspended in formaldehyde with 18-karat gold hooves and horns, sold for $18.6 million. The auction shows that the art world is thriving, at least for now, despite the global economic downturn.

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An embalmed calf with hooves and horns of 18-carat gold titled "The Golden Calf" sold for 10.3 million pounds (US$18.5 million) at Sotheby's auction house Monday Sept. 15 2008. (AP Photo)

A work 'Anatomy of an Angel' by British artist Damien Hirst is seen on display at an auction house in London, Monday, Sept. 8, 2008. (AP Photo/Sang Tan)

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)

This is a Monday Sept. 8, 2008 file image of a visitor as she looks at the work 'The Kingdom' by British artist Damien Hirst at an auction house in London. (AP Photo/Sang Tan)

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It is a completely surreal scenario. The day the financial world was living a black Monday, art as a whole remained confident. It is remarkable. - Charles Dupplin, an art expert with Hiscox.

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Hirst Auction Yields $199M