ART MARKET | RAYMOND PETTIBON HITS THE MILLION DOLLAR MARK AT SOTHEBY’S

May 19, 2014  |  art

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As familiar blue chip names like Koons, Warhol, and Basquiat continued their assault on the wallets of the world's most conspicuously consuming oligarchs at massive auctions at the big houses in NYC last week, it was nice to see a piece by OG punk artist Raymond Pettibon surpass the million dollar mark for the first time as part of the rising tide. The gorgeous painting in question, Untitled (Mimicked In Its...), is a stunning example of Pettibon's ultra-desirable surf series currently on display at Venus Over Manhattan Gallery in NYC,  was originally sold at Regen Projects in LA in 2001 for what in comparison would be considered a paltry sum. In a heated round of bidding at Sotheby's Contemporary Art Evening Auction on May 14th, the giant wave brought in a final hammer price of $1,325,000 on an estimate of $500–$700K solidifying the former Black Flag artist as a bonafide member of the million dollar club, something almost unimaginable back in the dog days of 1982...

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Artist & weapon...

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