Tuesday 14 May 2013

Record Breaking 11th Hour Charity Auction



After being told by my tutor to “have fun in the library” as it would probably be the last time I set foot in one, I headed to the library, opened up Safari and started to numb my mind with fashion (net-a-porter’s Monday arrivals) and mindless art-related articles (via GalleristNY).

I’m not sure whether it was the coffee or the article, but one in particular really pepped me up and put me in a good mood. I was reading about Leonardo diCaprio’s auction at Christie’s NY for his charity the 11th hour – the actor reportedly started the auction by instructing the bidders to “bid as if the fate of the planet depends on us.”

Edward Ruscha, Bliss Bucket, 2010 - sold for $357,500 (estimate $150,000 - $200,000)

Urs Fischer, Good Problem, 2013 - sold for $1.1 million (estimate $450,000 - $550,000)


The auction raised an impressive $31.7 million – far exceeding the high estimate of $18 million with, incredibly, 13 artist records broken. The incentives for the lavish bidding were plenty, with most of the proceeds going straight to the Leonardo DiCaprio Foundation, as well as Leo personally calling collectors beforehand and buttering them up, and Christie’s specially lowered buyer’s premium of 5%.

It wasn’t just the incredible amount of money raised for charity that excited me, but the inclusion of some of my favourite contemporary artists! And the fact that they had participated in the “highest grossing charity auction” of all time – well… that’s enough to excite any charitable girl!

 Zeng Fanzhi, The Tiger, 2011 - sold for $5.04 million (estimate $1.5 million - $2.5 million)

Mark Grotjahn, Untitled (Standard Lotus No.II, Bird of Paradise, Tiger Mouth Face 44.01), 2012 - sold for $6.51 million (estimate $1.5 million - $2.5 million)

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