Did You Know The Most Money Made In A UK Auction Is £153 Million?
Did you know that in June this year an impressionist’s art sale fetched £152.6 million, beating the record for the most money ever made in a UK auction? The highlight of the sale at the London auction house, Christies was a 1903 painting by Pablo Picasso. The piece, named ‘Portrait of Angel Fernandez De Soto’, (also known as ‘The Absinthe Drinker’), sold for £34.7 million.
Andrew Lloyd-Webber’s Art Foundation, a charity set up by the British composer to promote art, culture and heritage in Britain, bought the artwork for £19 million in 1995. They attempted to sell the painting at Christies in New York in 2006 but the auction was called off due to controversy over the ownership. Julius Schoeps, who is Jewish, claimed his family had owned the painting, but had been forced to sell it by the Nazis. Lord Lloyd Webber’s Foundation contested this claim and the court eventually ruled in their favour, saying it could not be sued by Professor Schoeps because he was not appointed to represent his relatives’ estate.
It seems that all high profile art is recession proof. A sculpture by Swiss artist Alberto Giacometti was sold in February this year at Southby’s in London for a world record breaking £65 million. The sculpture named ‘L’Homme qui Marche’ which depicts a grimly determined walking man, broke records as the most expensive piece of artwork ever sold.
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