5 Paintings That Won The Bidding War: Art Auction Scenes | Artswel

Many people often think why art is so expensive. The answer is simple. The value of art affects the fundamental sense of self.

Therefore, ardent admirers of competency and adroitness end up paying an astronomical amount in any art auction for priceless pieces of paintings. The value of art is far more subjective than those of real estates or gold. Myriad factors contribute in deciding the cost of a painting.

So, before delving into the list of most expensive paintings ever sold considering the original value, here is the why behind such pricing.

Precisely, all these aspects lead to a consensus in the art market where collectors are ready to pay an insane amount to own the priceless possessions. Moreover, since a lot of striking paintings are synonymous with rarity, these create a sense of scarcity too.

That being said, here is a list of paintings sold at for millions more than the earlier worth. Check ’em out:

Salvator Mundi by Leonardo da Vinci

Leonardo da Vinci’s Salvator Mundi by far and large is the most expensive painting sold ever as of 2019. Breaking all the earlier records in the art auction, this piece of rare art saw a tough competition amongst the collectors.

Originally painted for Louis XII of France, it is now owned by the Louvre Abu Dhabi with a whopping amount of $450.3 million on November 15, 2017. Initially, people presumed Mohammed Bin Salman, the Crown Prince of Saudi Arabia to be the owner.

However, later Christie issued a statement to clear the skepticism. Prior to this Salvator Mundi price was $127.5 million where the Russian billionaire Dmitry E. Rybolovlev bought it in 2005.

Race Riot by Andy Warho

Another famous painting, Race Riot is an exemplary creation by Andy Warhol depicts the civil unrest in the US. Belonging to the genre of post-war and contemporary, it represented police brutality and oppression on the African American citizens.

What makes this painting beyond any value is Warhol being a white artist protested with colours to condemn the sufferings of Black.

A private collector acquired it at $62.885 million in 2014 to the Gagosian Gallery. Be that as it may, the painting was sold for the first time in an art auction for $1.76 million in 1989. After this, it went across several collectors’ hands until the Gagosian Gallery decided to put a period.

Les Femmes d’Alger (“Version O”) by Pablo Picasso

Touted to be one of the most notable paintings of , Les Femmes d’Alger’s (“Version O”) value as of 2015 is $179.4 million. It grossed such a higher price in the art auction because it majestically employs the revolutionary Cubist pictorial language.

This brightly-hued painting portrays three partially dressed women smoking, sleeping, and reclining respectively with a female servant in the background carrying a teapot. These eroticized Delacroix’s Orientalist figures of females rendered an awe-inspiring touch to the painting making it an abiding beauty.

Before this sale, a collector from Saudi Arabia bought it for $31.9 million in 1997. Considering the pre-auction speculations, the estimation was around $140 million. However, the international head of contemporary art at Christie owned it from the art auction surpassing all the prices.

Untitled by Jean-Michel Basquiat

Known primarily for the abstract artwork, Basquiat’s painting Untitled was sold for $110 million. It happens to be the highest auction piece by any American artist in the art market.

Keeping the price aside, the engrossing painting of this skull is covered with scribbled letters, overlapping layers, and a hundred thoughts. After looking at it for a while, one can feel the gush of vigour and gut-punch intuitiveness.

Japanese billionaire Yusaku Maezawa, the founder of e-commerce company Start Today acquired “Untitled” and later decided to loan it to numerous museums.

Abstraktes Bild by Gerhard Richter

Abstraktes made headlines because it is one of the most expensive paintings ever sold by a living artist. The Michael and Eleonore Stoffel Foundation owned this 10-feet long painting at a cost of $607,500 in 1999.

Experts predicted the price to be between $21 million and $30 million in the art auction. However, after a bidding war, an anonymous buyer from the US purchased it for $46.3 million from London.

Being Richter’s one of the first squeegee paintings, it unravels the sensitive tendencies in a mechanical yet detached manner. This is only because Richter envisions his painting anything but heroic!

Another exclusivity of the painting is its blurriness. Perhaps, many duly say that the blurring as a metaphor to wipe out the past of the Nazis.

Solace and Sophistication in Art Auction

To own a Picasso or a Leonardo happens to be the highest manifestation of erudition. In a world, where materials and wealth are thought to go hand-in-hand, art transcends all barriers.

Therefore, buying paintings from the art market paying billions makes sense. Because to some, it’s a lifetime investment and to some, it’s no less than psychic benefits.

What’s your view on this? Let us know, we would love to hear!

Originally published at https://artswel.com.