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Christies auction in New York breaks records

on Thursday,November 11,2010 20:11

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The New York fall auction held by Christie's was predicted to bring in a large amount of cash from contemporary art fanatics, but few predicted that pieces would sell for record-breaking prices. The auction, which ended on Wednesday, sold $272,873,000 worth of art, according to Reuters. This beat out rival Sotheby's auction by a large margin.

Roy Lichtenstein's renowned painting, "Oh...Alright" was sold for $42.6 million, which is the most one of the artist's pieces had ever sold for. Prior to the auction, Lichtenstein's record had been $16.2 million. Jeff Koons' piece, "Balloon Flower," was also a highlight of the night, selling for a surprising $16.8 million.

Pop artist Andy Warhol's works were some of the only disappointing pieces of the night, critics said. "Big Campbell's Soup Can with Can Opener (Vegetable)" sold for a mere $23.8 million, which is less than half of what the piece was expected to sell for. Experts say that the high availability of Warhol artwork lately at other recent auctions may be to blame for the low number.

Artist careers are expected to increase by 12 percent over the next eight years, according to the U.S. Bureau of Labor Statistics. 
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