Hockney painting set for record $80m

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A painting by British artist David Hockney is set to end up being the most pricey work by a living artist to ever be cost auction.

Portrait of an Artist (Pool with Two Figures) is anticipated to bring $80m (£ 61m )at auction in New York in November, according to Christie’s.

It is “among the fantastic work of arts of the modern-day period,” Christie’s included.

The present record comes from American Jeff Koons. His stainless-steel Balloon Dog (Orange) cost $58m in 2013.

“Right now, the cost level for this painting is embeded in the area of $80m, which does not suggest I wish to top it there, however that’s where we put it within the context of market history,” stated Alex Rotter, co-chairman of Post-War and Contemporary Art and Christie’s.

“In 10, 15, 20 years from now, if you purchase it, we certainly desire it back and I can inform you, we’ll offer it for more,” he included.

One of the Yorkshire painter’s most recognisable works, the structure of the 2 figures started as 2 different photos on the artist’s studio flooring.

It was finished in time for an exhibit at New York’s Andr Emmerich Gallery in 1972.

It has actually because appeared in a variety of retrospectives at the Tate Modern, Centre Pompidou in Paris and the Met in New York.

Earlier this year, another of the 81-year-old’s paintings cost $28.5 m (£ 21.1 m) – an individual auction record for the artist.

Image copyright Reuters

Christie’s has actually not revealed the personal seller, however Mr Rotter included: “It is this unusual coincidence – when the very best painting of an artist is in fact offered.

“With this painting, Hockney sealed his positioning within the world of history’s most venerated artists, and come November, it is poised to end up being the most important artwork by a living artist ever cost auction.”

The painting will be shown in Hong Kong, London and Los Angeles, prior to it is auctioned on 15 November.

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