REFCO Photography Auction Mania
The auction room was packed with people, press, and camera crews. The sale went very well. Overall, many of the lots sold way over their presale estimates. For example, all of the MAO favorites like the, Carrie Mae Weems, and Vik Muniz lots sold well above (most at more than two times) their estimates.
There were also a few good bargains to be had as well, like the 2 Ralph Eugene Meatyard - Lucybelle Crater Photo's ($3,500), Andreas Serrano (2 large 1980's images fror $7,500), and the Peter Hujar lots (2,500 to 3,500) which all sold for almost nothing!
But we have to give
the Official MAO INSANE
"WHY DON'T THEY JUST BURN THE MONEY" AUCTION
Purchase of the day goes to the lucky person who bought :
Lot #230 Joel Sternfeld lot #230 "McLean, Virginia, December, 1978, 46"x60" modern print, for $96,000
Now while I like the image.. this is a prime example of a Photographer (screwing his early collectors) who's been "re-editioning" his early work and printing tons of new large size modern prints which are readily available.. and for way less than $96,000!
Well.. At least this photo comes in a nice new pretty REFCO frame!
So, as expected, the ART Market is still RED HOT, and I'm sure there will be more Auction Mania to come.. at the May Contemporary sales.. so stay tuned!