Artnet AG: artnet Auctions Achieves Record Results in its Latest Contemporary Art Auction

DGAP-Media / 29.03.2019 / 07:00 artnet Auctions Achieves Record Results in its Latest Contemporary Art Auction Erik Parker's Untitled (Ants Were Your From Its Where You're At) sets a new auction record Berlin/New York, March 29, 2019-artnet is pleased to announce results for Contemporary Art, an online-only auction which closed this week. Outstanding prices were achieved for the top two lots: Carlos Cruz-Diez's Physichromie 1624 (2010) sold for $264,000, and an untitled wall sculpture from 2013 by Anish Kapoor achieved $300,000. A new world record was also set for New York-based artist Erik Parker. Untitled (Ants Were Your From Its Where You're at) (2003) tripled its estimate, selling for $57,600. Featuring his signature bright color palette and architectural framework, this large-scale painting generated an impressive 25 bids. Also among the highlights is a work by Shara Hughes, who was a standout in the 2017 Whitney Biennial. Her imaginary landscapes and ambiguous perspectives are illustrated in Stairs Upstairs (2007), which realized $38,400, against an estimate of $15,000-20,000. "The quality and rarity of works offered, coupled with thorough research on their provenance and history, has proven once again to be the key to success on our platform. Bidders from around the world participated and competed in the sale, and in light of this success, we are already planning with excitement our next month of auctions," said Bibi Naz Zavieh, artnet's senior specialist in contemporary art. In the fourth quarter last year, revenue for the Auctions segment increased by 43% to $1,249,000, as compared to the same quarter in 2017. On the heels of this success, artnet Auctions has kicked off their spring Premier sales with Prints & Multiples and Photographs. These anticipated sales are live for bidding now and include works by influential artists, such as Andy Warhol, Cy Twombly, and Cindy Sherman. Next month, the Premier sales continue with Contemporary Art-the deadline to submit works is April 16, 2019. Collectors can view live sales and submit artworks to upcoming sales at artnet.com/auctions/sales-calendar/. For more information, please contact [e-mail] or visit artnet.com/auctions. About artnet artnet is the leading resource for buying, selling, and researching art online. Founded in 1989, artnet's suite of industry-leading products has revolutionized the way people collect art today. The Price Database contains over 12.5 million auction results from more than 1,800 auction houses dating back to 1985, providing an unparalleled level of transparency to the art market. The Gallery Network platform connects leading galleries with collectors from around the world, offering the most comprehensive overview of artworks for sale. artnet Auctions was the first dedicated online marketplace for fine art, providing a seamless and efficient collecting experience for both buyers and sellers. artnet News covers the events, trends, and people shaping the global art market with up-to-the-minute analysis and expert commentary. artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest transparency standards. ISIN: DE000A1K0375 LEI: 391200SHGPEDTRIC0X31 End of Media Release Issuer: artnet AG Key word(s): Art 29.03.2019 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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793287  29.03.2019