By Michele Leight

It was exciting to be in Sotheby's galleries on May 9th as major works of art were being installed for the upcoming sale of Post War and Contemporary Art. Mark Rothko's gorgeous "Orange, Red Yellow" in sunset colors ignited one wall, while Francis Bacon's "Triptych, 1976," glowed beneath excellent lighting nearby, far more impressive in reality than any reproduction can convey. Together, these two works have a pre-sale estimate in the region of $100 million.

The Bacon is a knock out - a superb work of art. Tobias Meyer, Sotheby's worldwide Head of Contemporary Art has said:

"This is undoubtedly the most important Bacon in private hands. It has been in the same collection ever since it was acquired from the Bernard show over thirty years ago, and it is a masterpiece of the 20th century."

Each of the three panels of the Bacon oil and pastel triptych measure 78 by 58 each.

The catalogue entry for this work by Bacon (1909-1992) provides the following commentary:

"Bacon created this monumental work as the centerpiece for his show at the Galerie Claude Bernard in Paris in 1977....One of only three triptychs in the show, Triptych, 1976 was illustrated on the cover of the catalogue...In the central panel, a headless body is savaged by a whirling bird of prey whose wingspan spirals downwards. This Prometheus figure is reminiscent of the headless, armless goddess identified as Leto or Hestia of the 5th Century B.C., among the Elgin marbles in the British Museum. Bacon admired the disrepair of ancient Greek sculpture caused by centuries of ruin....In the left foreground, a second wingless creature clasps a rail with its talons and to the right, a third avian makes off with its prey. This triumvirate presents the Three Furies or Eumenides described in Aeschylus' Oresteia, a text that Bacon knew well and referenced liberally....In the foreground of the left panel, a half-clothed figure bleeds down from the portrait, a muscular forearm discernible in the organic mound of flesh. Crouched on a stool, he stoops over an open case filled with paper evocative of the torn ticket stubs of shattered dreams, crumpled newsprint created with Letraset at his feet.....in the right panel. Here, two contorted nudes are locked in physical embrace....Bacon scumbels the paint, draws it across the canvas, exploiting the nearly dry elasticity of the pigment to create chance effects. Daubing ridges of oil with corduroy, he takes lessons from photographs of rare skin disorders to communicate the physicality of flesh."

The lot is anticipated to fetch about $70 million. It sold for $86,281,000, to a European bidder, including the buyer's premium as do all results mentioned in this article. It was an auction record for the artist as well as the highest price ever achieved at auction for a post-war work. The sale was extremely successful with 73 of 83 offered lots selling for a total of $362,037,000, the highest total for any Sotheby's auction ever. The pre-sale estimate was $288,000,000 to $356,000,000. After the sale, Tobias Meyer, the auctioneer, was in a justifiably euphoric mood - well earned - and between hugs and kisses with his staff described, again, the Bacon as "one of the great paintings of the 20th Century." He is consistent. He said this in Sotheby's catalog.

The auction set a total of 18 records for paintings by artists and 5 more records for works in other media by artists. Eight lots sold for more $10 million. Alexander Rotter, Sotheby's Head of Contemporary Art, New York, said that the sales price average was $4,969,410. Sotheby's declined to provide a geographic break-down of buyers, but Mr. Meyer emphasized that the market is now "global," and he praised the "global network" of the auction house.

In May, 2007, the world auction record for a contemporary work of art was set at Sotheby's with the sale of Mark Rothko's "White Center, (Yellow, Pink and Lavender on Rose)," when it sold for $72,840,000. It was an iconic work of art, the equivalent of Olympic gold, that set the bar high. Lot 38 in this auction, "Orange, Red, Yellow" by Rothko (1903-1970) is not as spectacular but is expected to fetch about $35 million. An oil on canvas, it measures 79 1/2 by 69 inches and was painted in 1956. It failed to sell and was passed at $33 million.

Many of the works in the auction come from the collection of Helga and Walter Lauffs, one of the most important German private collections to ever appear on the market, comprising superb examples from the full spectrum of Minimalism, Pop Art, New Realism, Conceptual Art and Art Povera. One of the gems from this collection is Lot 36, Joseph Cornell's "Bird in a Box," created by Joseph Cornell (1903-1972) in 1943. Conceived in an autumn color palette, it is a construction of wood, cork, branches, printed paper and grains in a wood and glass box. It has an estimate of $650,000 to $860,000. It sold for $657,000.

Records are a tough act to follow, because expectations run high, and no one wants to settle for less. However, that is unrealistic. Despite pessimistic predictions of an economic recession, the sad collapse of Bear Stearns, which should never have happened, and a housing mortgage crisis that must be stabilized, there is much art to enjoy and bid on this season. New Yorkers adore art, and this incomparable 'city of cities' has been a catalyst for the appreciation of contemporary art, that has also contributed to a meteoric rise in auction prices for the finest post-war and contemporary artworks.

Those who believe that last week's grand totals for Impressionist and Modern art at both auction houses is a sign that New York has "peaked," or that stronger sale prices for art will emerge elsewhere may be a little hasty in their judgment. We get greedy when our auction houses rake in prices like those for the seminal Rothko consigned by a Rockefeller, and Andy Warhol's "Green Car Crash," from his important "Death and Disaster" series, which sold at Christie's for slightly less than Sotheby's Rothko in November 2007 for $71,720,000, pulverizing its prior auction record of $17,360,000. That gives some idea of what has happened in just a few years - and the need for perspective.

Illustrated above is a superb Warhol, "Detail of the Last Supper (Christ 112 Times)," Lot 53, the last series before his untimely death, with a detail below. The acrylic and silkscreen ink on canvas measures 80 by 421 inches and was painted in 1986. Warhol (1928-1987) was a devout Catholic his entire life, despite his anti-establishment, anti-bourgeois nature. The painting has an estimate of $10,000,000 to $15,000,000. It sold for $9,561,000.

Lot 59, a wonderful, patriotic "Statue of Liberty," painted toward the end of Warhol's short life, is estimated at $2,500,000-3,000,000, and was shown at the exhibition alongside Lot 200, "Ladies and Gentleman," from the day sale, which has an estimate of $1,000,000 to 1,500,000. The "Statue of Liberty" was painted in 1986 and measures 72 inches square. It sold for $5,193,000, well above its high estimate, which hopefully means that patriotism is alive and well. "Ladies and Gentlemen" was painted in 1976 and measures 50 by 40 inches. It was good to see a day sale painting included in a gallery filled with big-ticket evening sale artworks, because the day sale standard is extremely high at both auction houses this season, offering hope to those collectors that love art but do not have unlimited funds.

Some of the estimates for this season's art works may have more to do with the sense of euphoria left over from last season's awesome results. Those were stratospheric prices, so perhaps it is time for a reality check. But this is New York, and anything can happen.

Whenever a sale generates in excess of $200 million dollars, it can hardly be branded sluggish. Few cities, if any, have consistently delivered the kind of auction results that New York has. Sotheby's and Christie's Impressionist and Modern Art sales last week were robust, generating well in excess of that figure, although sales by lot of 76 percent and 78 percent, respectively, may be an indication enthusiasm is not running riot.

"The Minimalist Gallery" at the exhibition featured Lot 20, "Untitled," by Donald Judd, light cadmium red enamel on galvanized steel, 15 1/2 by 93 by 78 inches, Lot 14, "IKB1" by Yves Klein, dry pigment and synthetic resin on canvas, laid down on plywood, 56 1/4 by 44 1/8 inches, among other iconic minimalist artworks. The Judd sculpture was created in 1964 and the Klein painting in 1960 and both have estimates of $5,000,000 to $7,000,000. Lot 20 sold for $4,241,000. Yves Kline's ultramarine blue "IKB1" was displayed to great effect with his beautiful gold leaf on panel "MG9," Lot 13, which has an estimate of $6,000,000 to $8,000,000, and pink "MP13," Lot 15, which has an estimate of $2,000,000 to $3,000,000), all from the Lauffs Collection. Lot 14 sold for $17,401,000. Lot 13 sold for $23,561,000, a world auction record for the artist. Lot 15 sold for $4,745,000.

The Minimalist works in this gallery were from the Lauffs collection and also included Carl Andre's "36 Copper Square" floor sculpture, Lot 19, which has an estimate $2,500,000 to $3,500,000. It sold for $2,032,000, a world auction record for the artist. Also in the same gallery was Robert Rauschenberg's wonderful "Slug," Lot 32, estimated at $3,000,000 to $4,000,000. Lot 32 sold for $2,841,000. "Slug" is a combine painting made of oil, cotton sleeves, electric cord with light bulb, wood and tin with enameled pot and metal chain and it measures 67 by 48 by 9 1/4 inches. It was created in 1961.

Speaking in the gallery, Anthony Grant, International Senior Specialist, Contemporary Art at Sotheby's, said that "Minimalism re-directed art," adding that "No one can emphasize the importance of the red Judd enough. It has appeared on the cover of numerous Minimalist art books. There is also an excellent work by Robert Smithson, a museum quality work." Lot 22 is "Alogon #3," a painted steel sculpture in 20 parts by Smithson (1938-1973). It has an estimate of $1,500,000 to $2,000,000. It sold for $4,297,000, an auction record for the artist, and a wonderful work of art.

Anthony Grant is shown standing in front of Frank Stella's sublime "Concentric Square," Lot 45, from the Lauffs Collection. It was the most graphic work in the Minimalist gallery, painted in alkyd on canvas, with an estimate of $2,000,000-3,000,000. It sold for $2,729,000. Mr.Grant was under siege after the auction, and justifiably so. The three Kleins put on quite a performance tonight, as well as did many minimalist works of art.

In a catalog devoted exclusively to the Lauffs Collection, Tobias Meyer wrote:

"When the businessman and art enthusiast Walther Lauffs met Paul Wember, a visionary museum director in 1968, the seeds of an inimitable collection of Contemporary Art were sown. An agreement was reached whereby, in exchange for assistance in building his collection, Mr. Lauffs would place the acquired art in the Kaiser Wilhelm Museum in Krefeld, Germany, run by Mr. Wember, on long term loan. A friendship was also forged through their mutual interest and a love of art that would inspire one of the most esteemed anthologies of American and European art from the 1960s and 1970s."

Anthony Grant said: "Paul Wember told Walter Lauffs 'I will get you access' as long as you can get me the funding. Their partnership resulted in a collection that offers an American and European vision of the 60s. Yves Klein's blue 'IKB1' was the first piece purchased. Mr. Wember wanted 'the best of the best,' and he could pick and choose."

Many works from The Lauffs Collection are illustrated here, including "The Tar Roofer," by George Segal (1924-2000), Lot 49, which was executed in 1964 and has an estimate of $300,000-400,000), shown above with Sotheby's installation crew working hard in the background. It sold for $421,000.

Lot 34, another work from the Lauffs, is a bronze sculpture by Joseph Beuys (1921-1986) that is called "Bett (Corsett)." It was conceived as early as 1949-50, and cast in the 1960s. It is number 5 of 6 and measures 8 1/4 by 21 1/4 by 9 1/4 inches. It has an estimate of $750,000 to $950,000. A wonderul sculpture, It sold for $1,049,000, an auction record for the artist.

Viewing Tom Wesselmann's "Great American Nude No. 48" on a soggy wet day with rain pouring continuously from a lead gray sky, was like a shot of adrenaline, because it offered bright yellow walls and blue skies, visible through the open "window." "I am interested in assembling a situation resembling painting, rather than painting," writes Tom Wesselman, in the catalog. This fabulous 1963 painting, Lot 50, has an estimate of $6,000,000 to $8,000,000. It measures 84 by 106 1/4 by 40 1/2 inches. It sold for $10,681,000, an auction record for the artist, a clear signal that happy art is desireable.

A total of 33 works from the the Lauffs collection will be offered in New York, with an estimate in excess of $49 million, while the rest will be sold in London later this year. The entire Lauffs Collection has a pre-sale estimate in excess of $76 million. The Lauffs works in this auction sold for about $96,000,000.

Alexander Rotter, Sotheby's Head of Contemporary Art, New York, then escorted press to the next installation, an electrifying gallery filled with works by Jeff Koons, Takashi Murakami (b. 1962), Andy Warhol, and Mike Kelly, among others. Warhol's graphic black and yellow "Detail of the Last Supper (Christ 112 Times) Yellow," (1986), cropped from Leonardo da Vinci's grand "Last Supper" dominated an entire wall, setting the stage for wonderful works of art.

Center stage was Takashi Murakami's intentionally outrageous and provocative "My Lonesome Cowboy," Lot 9, an oil, acrylic, fiberglass and iron sculpture that is 100 inches high and is from an edition of 3 plus 2 artist's proofs. For those that might not be familiar with this sculpture, it depicts a naked - one must be straight-forward here - ejaculating male, with white sperm rising up above his head in a comic book spiral crafted from fiberglass and iron.

"This is the most "R" rated work in the sale," said Mr. Rotter, refreshingly unfazed by the "over-the-top" eroticism of the sculpture: "We are thrilled to have such a key work by Takashi Murakami. His take on contemporary art is a new vision, a Japanese vision of American society."

Through "My Lonesome Cowboy," Murakami is taking a witty swipe at prudery and puritanical values that rarely, if ever, condone any reference to male sex organs or sexuality, while porno magazines are overflowing with naked women in every possible configuration.

"This is the first time male genitalia is fully exposed," said Mr. Rotter, " usually it is always the woman. This man, who is shown literally 'giving everything that he has' is an interesting "take" on art culture, and our reactions."

Beyond the confines of an art gallery, or auction house, where censorship will not obstruct freedom of expression, a sculpture like this would unleash just the kind of hypocritical condemnation that Murakami is exposing - if it depicts a male. The estimate for this sculpture is $3,000,000 to $4,000,000. It sold for $15,161,000, an auction record for the artist! At no point in this historic sale was there more laughter among bidders, and commentary from Tobias, a sure sign that a significant statement has been made by a gutsy artist - and one must say, a gutsy Alexander Rotter, who did not pull his punches with press during a preview of this utterly winsome but controversial work. The point Murakami is making is serious, and bidders believed in him.

Twinkling quietly in one corner was Mike Kelly's bejeweled "Memory Ware Flat #2," Lot 70, its microscopic intensity requiring intimate inspection. This contemporary Mughal miniature constellation - fabricated from endearingly ordinary elements, not emeralds and rubies or gold leaf - held its own in a fantastically energizing and bullish room, that was the exact opposite of the previous gallery's beautiful Minimalist calm, consideration and intellectuality. It was an inspired combination to offer writers and photographers. (See The City Review, "Without Boundary: Seventeen Ways of Looking," and "Color Chart" for more Mike Kelly). Lot 70 has an estimate of $450,000 to $650,000. It sold for $713,000.

Lot 67, "Caterpillar Chains," by Jeff Koons (b. 1955), was displayed diagonally across from "My Lonesome Cowboy." Koon's adorable poly-chromed aluminum "Caterpillar Chains" was encircled by cranes and several strong men intent on securing it from the ceiling. Suspending a cute metal, 77-inch-long caterpillar in mid-air is no easy task! As the photograph shows, it requires a serious conference. The estimate for "Caterpillar Chains," which was created in 2003 as number 3 of an edition of 3 with 1 artist's proof, is $5,500,000 to $6,500,000. It sold for $5,921,000.

Before Murakami raised the bar on shock value, it was Koons that raised eyebrows with his pornography infused art. Bourgeois "taste" is creative fodder for artists like Warhol, Koons, Hirst and Murakami, because "taste" implies that some people "know better" - and therefore are better - than others.

Not so fast say these artists, who are quick to confront bourgeois morality and hypocrisy, which plays out in the media every day, exposing pillars of the community - "respectable" family men in leadership positions - that turn out to have high-priced hookers and illegitimate children on the side, among other fallen and fallible humans.

"Naked," Lot 5, from his "Banality Series" is another sculpture by Koons on offer at this sale, executed in porcelain in 1988, that confronts sexuality from another, more disturbing angle: pre-pubescent fascination with sex, and our discomfort with it.

Sex and children are not supposed to intersect, but "Naked" suggests this is delusional, especially today, because we know they are thinking about sex as they stare at the phallic yellow stamen of a red anthurium. "Naked" captures the beauty of innocence, in the fresh pink skin and flowers strewn near sweet little feet, and implies the inevitable loss of it.

The embracing children recall Adam and Eve in The Garden of Eden, and the tempting apple - replaced by a bouquet of flowers - that caused so much trouble. It is a brilliant, satirical commentary on late 20th society, and the shame and guilt involved in any reference to sexuality. Like all Jeff Koons sculptures, "Naked" is flawlessly executed, and has an estimate of $1,500,000 to $2,000,000. It is from an edition of three plus one artist's proof. It sold for $9,001,000, well above its high estimate.

In another gallery, Gerhard Richter's "1025 Farben," painted in 1974 from his "Color Chart" series, hung near his beautiful "Abstraktes Bild, Lot 23, which has an estimate of $5,000,000 to $7,000,000, shared the limelight. Lot 23 sold for $15,161,000. An outstanding result for a gorgeous work of art.

Lot 6 is an oil painting that is 11 feet 11 inches in diameter by Damien Hirst (b. 1965) and it is titled "Beautiful, childish, expressive, tasteless, not art, over simplistic, throw away, kid stuff, lacking integrity, rotating, nothing but visual candy, celebrating, sensational, inarguably beautiful painting (for over the sofa)." It was exhibited at "No Sense of Absolute Corruption" at Gagosian Gallery in 1996 and has an estimate of $1,500,000 to $2,000,000. It sold for $1,161,000.

Lot 10, "Untitled" is an ektacolor photograph by Richard Prince (b. 1949) of a cowboy in a rugged Western landscape. Executed i 1994, it measures 61 by 41 inches and is number 1 from an edition of 2. It has an estimate of $800,000 to $1,200,000. It sold for $1,385,000.

Lot 56 is a strong acrylic, oilstick and paper collage on canvas by Jean-Michel Basquiat (1960-1988) that is entitled "Untitled (Prophet I). Executed in 1981-2, it measures 95 1/4 by 59 3/8 inches. It has an estimate of $9,000,000 to $12,000,000. It sold for $9,561,000.

Many of the artists featured in Sotheby's and Christie's Post War and Contemporary Art sale donated their work outright to Auction RED, which took place at Sotheby's on Valentines Day, 2008, among them Damien Hirst, Mike Kelly, Mark Quinn, Subodh Gupta, Jeff Koons, Takashi Murakami, Richard Prince and many others. Sotheby's and Gagosian Gallery waived their commission.

Bono, Damien Hirst, Sotheby's and Gagosian Gallery collaborated on this historic, star studded auction, that achieved a staggering $42,580,000 that will help support AIDS relief programs in Africa, specifically for treatment of women and children. Reviews of Auction RED can be accessed at The City Review, and Ashraya-New York.

One of the highlights of the auction from the Lauffs Collection is lot 27, "Overdrive," by Robert Rauschenberg (b. 1925-2008). An oil and silkscreen ink on canvas, it measures 84 by 60 inches and was painted in 1963. It has an estimate of $10,000,000 to $15,000,000. It sold for $14,601,000.

Another property from the Lauffs Collection is Lot 31, a set of four boxes by Andy Warhol that was created in 1961. The set includes a Brillo box, a Campbell's box, a Del Monte box and a Heinz box. The lot has an estimate of $2,000,000 to $3,000,000. It sold for $4,745,000.

Lot 29, also from the Lauffs Collection, is a whimsical "Yellow Girl's Dress," by Claes Oldenberg (b. 1929). An enamel on plaster over muslin and wire, it measures 31 1/4 by 32 by 6 inches. Created in 1961, it has an estimate of $1,500,000 to $2,000,000. It sold for $1,721,000, an auction record for the artist.

Lot 71, "Saat Samunder Paar VII," by Subodh Gupta (b. 1964) is a wonderful painting that captures the fluidity of life today, where people of all nations wing across the globe in planes, carting goods with universally recognizable brand names. So much has changed, but the quest for identity in an ever-changing world persists. An oil on canvas, it measures 66 by 90 inches and was created in 2003. It has an estimate of $500,000 to $700,000. It sold for $825,000, an auction record for the artist.

Lot 16, "Achrome," a kaolin on folded canvas executed in 1958 by Piero Manzoni (1933-1963), sold for $10,121,000, an auction record for the artist.

Lot 25, "B.J.M.C.-Bonjur Monsieur Courbet," by Georg Baselitz (b. 1938), sold for $4,633,000, an auction record for the artist.

Lot 42, "Gloria in Excelsis," by Hans Hofmann (1880-1966), sold for for $4,297,000, an auction record for the artist.

Lot 43, "Polar Stampede," by Lee Krassner (1908-1984), sold for $3,177,000, an auction record for the artist.

Lot 76, "1/1 V Series," by Robert Mangold (b. 1937), sold for $937,000, an auction record for the artist.

Lot 79, "Glyphs," by Brice Marden (b. 1938), sold for $3,065,000, an auction record for the artist.

Lot 80, "The Forest," by Jeff Wall (b. 1946), sold for $993,000, a record for the artist.

Lot 3, "Cremaster Suite," by Matthew Barney (b. 1967), sold for $457,000, an auction record for a photograph by the artist.

Lot 52, "Love Wall (Red Green Blue)," by Robert Indiana (b. 1928), sold for $2,841,000, an auction record for a painting by the artist.

Lot 83, "Untitled," by Jean-Michel Basquiat (1960-1988), sold for $937,000, an auction record for a work on paper by the artist.

Lot 85, "Light My Fire," by Yoshitomo Nara (b. 1959), sold for $1,161,000, an auction record for a sculpture by the artist.

Art auctions are about results, even though we prefer to think it is only about the art. If more buyers were able to get into the game at somewhat affordable prices - in day sales - "grand totals" would continue to swell, calming the nerves of executives entrusted with protecting the bottom line, which they must.

As I was leaving Sotheby's, Julian Schnabel entered the lobby. It was wonderful to see an artist, in a world where art is rapidly becoming a hugely profitable commodity.

With constant reminders by economic pundits that we are in a recession, it took the wife of a modest collector to clarify what the art auction season is all about. Her husband was incredulous at some of the estimates for post war and contemporary art:

"Who can afford it?" he said, citing prices for de Kooning and Rothko.

His wife said nothing while he rambled on about how it was time to concentrate more on stocks and financial investments, that art was becoming too risky at these prices.

Finally, when she had had enough dreary pessimism, she cut him off and said:

"Yes, and if all the markets collapse like you say they might, what will we have if we only put the money in financial investments. If we buy paintings, at least we will have the art."