When good works hit the market, they are still making record prices. This de Kooning was bought by Frank J. Fertitta III in 2006 for $27.1 million and in 2009 he sold it to Bidzina Ivanishvili for an undisclosed. Last night the work made $66.3 million.
When the auction ended, $277 million worth of art was sold (presale estimate was $216.6-$306.6M) with 54 of the 61 works finding buyers (88.5%).
Source: De Kooning Painting Fetches Record $66 Million
Willem de Kooning “Untitled XXV”