Guy Hepner: Warhol, Haring & Wesselmann Set Records at Auction

Andy Warhol, Keith Haring and Tom Wesselmann experienced outstanding auction results last week in New York at Sotheby’s and Christie’s. Works by Warhol, Haring and Wesselmann sold well above the initial estimates. The auctions a whole were incredibly successful, but the true highlights were black and white paintings by Warhol from late in his career.

For his late paintings, Warhol scanned Pop images from newspapers and magazines, focusing on current events and topics of personal significance. Warhol deliberately included sociopolitical commentaries in his later works, exploring major cultural issues of the mid to late 1980’s. Self Defense by Warhol, estimated between $250,000 and $350,000, sold for $506,500, twice its estimated value. Eggs by Warhol, estimated between $20,000 and $30,000, sold for $68,500.

Two Jackies by Warhol, estimated between $40,000 and $60,000, sold for $446,500, more than seven times the initial estimate. A large untitled ink and acrylic painting by Keith Haring, estimated between $20,000 and $30,000, sold for an unprecedented $220,900. Face No. 4 (Study) by Tom Wesselmann, estimated between $30,000 and $50,000, sold for $134,500, nearly triple the initial estimate. Blue-chip works by Warhol, Haring and Wesselmann continually exceed expectations at auction. Results such as these, prove that the art market is recovering quickly from the recent economic downturn.