We know there isn’t much wall space in your new construction glass sky-condo on Billionaire’s Row. But you might want to make some room for this one. A massive painting by everyone’s favorite abstract expressionist Willem de Kooning is hitting the auction block in November. And boy is it an investment piece.
In 2006, Christie’s sold “Untitled XXV” for $27.1 million. A decade, later it is expected to fetch some $40 million, according to the Associated Press. Not a bad return.
Christie’s predicts that the paonting will set a new auction record for a work by the abstract expressionist.
It was creaded during on of de Kooning’s most creative and productive periods, while he was living in Louse Point in Springs in East Hampton in the mid-1970s.
“In the ’70s he found new love … and that gave him inspiration, but also his arrival in Springs where he designed and built his own studio. He had fabulous light and he was madly in love,” said Brett Gorvy, Christie’s head of post-war and contemporary art. “He suddenly found his voice again. He described this 1977 period almost like a gambler throwing dice, and each time he was a winner.”
“Untitled XXV” measures 77 inches by 88 inches and is the artist’s largest painting.
“When you stand in front of it, it has amazing unity and wholeness despite that fact that it has so much variance in the way the paint has been applied,” Gorvy added.