$72M Sale Shatters Warhol Record

Auction madness continues as contemporary-art market sizzles
By M. Morris,  Newser Staff
Posted May 17, 2007 4:33 PM CDT
Ken Yeh, deputy chairman of Christie's Asia gestures in front of a painting by Andy Warhol entitled "Lemon Marilyn"during an auction preview in Hong Kong Wednesday, April 4, 2007. The painting estimated...   (Associated Press)
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(Newser) – An Andy Warhol painting sold for $71.7 million last night at Christie's, more than quadrupling the previous record price for a work by the pop artist. The price for "Green Car Crash (Green Burning Car I)," part of Warhol's "Death and Disaster" series, more than doubled the presale estimate and overshadowed the $28 million sale of "Lemon Marilyn."

Prices broke records for more than half of the 50 contemporary artists included in the sale, another sign of the red-hot market that saw a Rothko painting go for nearly $73 million at Sotheby's just one night earlier. The Christie's auctioneer called last night's feeding frenzy "one of the most remarkable sales I've ever seen." (Read more Andy Warhol stories.)