Twombly, Rauschenberg Works Draw Low Bids
NEW YORK (AP) _ A work by Cy Twombly that Christie’s expected would fetch $3 million to $4 million as the art auction season entered its second day Wednesday went unsold because bids were too low.
No one offered the minimum bid for ″Near Parnassus.″ The minimum wasn’t disclosed.
But Robert Rauschenberg’s ″Bait,″ with a presale estimate of $1.8 million to $2 million, did fetch $1.87 million. ″Bait″ tied for high price of the evening with Franz Kline’s ″West Brand.″
Rauschenberg’s abstract expressionist piece, ″Rebus,″ was the big seller Tuesday night at Sotheby’s. It went for $7.26 million, eclipsing the presale estimate of $4 million to $6 million.
Two Twombly works also were sold at Sotheby’s on Tuesday night. An oil, crayon and graphite on canvas, ″Untitled,″ went for $2.2 million. An oil and crayon on canvas, ″Untitled Grey Painting (Bolsena),″ sold for $880,000.
Earlier Wednesday, Sotheby’s held the second part of its contemporary art sale.
All prices include a 10 percent commission added to the hammer price.