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Christie’s sets record for most expensive item sold online

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Written by Auction House PR   
Thursday, 29 November 2012 09:06


Edward Hopper (American, 1882-1967), 'October on Cape Cod,' oil on canvas, painted in 1946. Estimate: $8,000,000–$12,000,000. Price Realized: US$9,602,500. Image courtesy Christie's Images Ltd. 2012.

NEW YORK – On Nov. 28 at Christie's American art auction in New York, an online bidder purchased Edward Hopper’s October on Cape Cod for $9,602,500 (£5,953,550/€7,393,925), setting a new record for the most expensive item sold online at any international auction house.

Christie’s previous house record of $3.3 million was established in 2010 with the sale of a rare Shang dynasty bronze wine vessel.

Since 2007, participation in online bidding in Christie’s auctions worldwide has increased steadily. For the year 2011, 29 percent of Christie’s bidders transacted online, and the company's Internet platform drew 25 percent more bids than the previous year.

Earlier this year, Christie’s announced its further expansion into online-only sales of fine and rare wines, vintage couture, prints & multiples and special collections, offering clients additional online buying opportunities, no matter where in the world they may be located.

Steven P. Murphy, chief executive officer, Christie’s International, commented: “The sale of October on Cape Cod via Christie’s LIVE™ proves once again that our clients are eager to use our online channel to grow their collections with works of significant value and quality. This record-setting online price is a testament to clients’ embrace of the online bidding option as a regular and integral component of doing business with Christie’s.”

The Hopper painting was a star lot of Wednesday’s American Art auction at Christie’s Rockefeller Center headquarters in New York. Painted in 1946, the scene depicts a solitary house along a deserted road in Cape Cod, where Edward Hopper painted many of his greatest works. Tinged with autumn light, the scene is imbued with a profound sense of silence. It is one of a very small number of important oils by the artist still in private hands.

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ADDITIONAL IMAGE OF NOTE


Edward Hopper (American, 1882-1967), 'October on Cape Cod,' oil on canvas, painted in 1946. Estimate: $8,000,000–$12,000,000. Price Realized: US$9,602,500. Image courtesy Christie's Images Ltd. 2012.

 

Last Updated on Saturday, 01 December 2012 23:15
 
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