«I LIKE MONEY ON THE WALL»

NEW YORK — In a remarkably successful auction of post-World War II and contemporary art, 39 paintings, drawings and three-dimensional works sold on Tuesday at Christie’s for $74.15 million. The total nearly matched the middle estimate and only seven lots failed to find takers.The enthusiastic response elicited by works of every possible description was reminiscent of pre-recession days.The auction began with a small “Untitled” sketch on paper board signed by Robert Rauschenberg in 1961. Only about 11.5 by 10 inches, or 29.2 by 26 centimeters, its small size and its support did not make it the kind of work that usually sells easily. Estimated to be worth $100,000 to $150,000 (plus the 25 percent sale charge), it shot up to a stupendous $938,500

New York Times
Nov 11 2009