Jean Dubuffet 1961 "L'Erratique," sold fof $698,500 at Christie's on March 10, 2011

By Mackie Healy, Art Market Views, Contributor

Christie’s First Open sale of Post-War and Contemporary Art totaled $10.3 million yesterday, the highest grossing First-Open sale since the pre-bust days of March 2007.

The tally suggests a market uptick, even at lower points on the pricing index, and arrives on the heels of a commercially successful New York fair week. (See results here).

Eighty-four percent of lots found buyers, with 262 of the 312 lots selling. The top lots were acquired by U.S. private and trade buyers, along with Russian, European and Asian dealers and collectors.

The priciest work was Jean Dubuffet’s impasto oil on masonite, L’Erratique (1961) which sold for $698,500, trumping the $300,000 – 400,000 presale estimate.

Other highlights included work by the auction block’s old faithful, Andy Warhol. His 1985-1986 black and white cartoonish silkscreen text, Heaven and Hell are Just One Breath Away! (Positive) sold to an Asian collector for $242,500.  Christopher Wool’s 2007 black and white abstract Untitled enamel on aluminum sold for $362,500, above the the $250,000 – 350,000 estimate.

The Top Ten:

Artist / Title / Year / Price Realized / Estimate / Buyer (according to auction house)

1. Jean Dubuffett, L’Erratique 1961 $698,500 (est. $300,000 – 400,000) U.S. Private
2. Christopher Wool, Untitled $362,500 (est. $250,000 – 350,000) South American Private
3. Joseph Albers, Homage to the Square: Sudden Spring 1956 $242,500 (est. $250,000 – 350,000) European Trade
4. Andy Warhol, Heaven and Hell are Just One Breath Away! (Positive) 1985-1986 $242,500 (est. $200,000 – 300,000) Asian Private
5. Andy Warhol, Flowers 1964 $242,500 (est. $180,000 – 250,000) U.S. Private
6. Paul McCarthy, Steven 2007 $242,500 (est. $200,000 – 300,000) European Trade
7. Ed Ruscha, Two Books 2001 $218,500 (est. $150,000 – 200,000) U.S. Private
8. Thomas Struth, El Capitan (Yosemite National Park), California 1999 $206,500 (est. $100,000 – 150,000) U.S. Private
9. Christopher Wool, Untitled 2007 $182,500 (est. $150,000 – 200,000) U.S. Trade
10. Roy Lichtenstein, Pistol 1964 $170,500 (est. $80,000 – 120,000) Russian Trade