Andy Warhol (1928 - 1987), 200 One Dollar Bills, 1962. silkscreen ink and pencil on canvas, 80 1/4 x 92 1/4 in.
It was an OMG moment! When a seminal Warhol — one of the artist’s first silk-screen paintings — came on the block at Sotheby’s auction of contemporary art on Wednesday night the auctioneer opened bidding at $6 million and was stunned when a bidder instantly doubled it. The Andy Warhol painting of 200 dollar bills was sold for $43.8 million by London-based art collector Pauline Karpidas, more than 100 times what she paid in 1986. Five bidders vied for Warhol’s 1962 “200 One Dollar Bills" and it went to an unidentified phone buyer. The 7 1/2-foot wide silkscreen canvas comprises repetitive images of one-dollar bills, reproduced in tones of black on grey, with a blue Treasury seal. In pristine condition, “200 One Dollar Bills” was enticing to any Pop Art collector. Add to that the provenance — it had once been part of the celebrated collection of Robert C. Scull, the taxi tycoon — and it was irresistible.
Just a year after the art market was in the doldrums with the world’s financial markets, buyers with deep pockets were not shy about stepping up for tried-and-true artists. The sale topped Sotheby’s expectations, totaling $134.4 million, well above its $67.9 million high estimate. Of the 54 works on offer, only two went unsold. The evening also eclipsed Christie’s auction of postwar and contemporary art on Tuesday night, which brought in $74.1 million. While both sales featured big-name artists, Sotheby’s had just enough blockbusters to make for a successful evening. “The art vacation is over,” said one New York art dealer, commenting that art has come back more than stocks or housing. The Warhol was a masterpiece, rare and great. It was his night!
