You won't believe this:
Sculpture sets contemporary auction record of 23.8 million dollarsLarry must be very happy.
NEW YORK (AFP) - A large-scale metal sculpture by American artist David Smith has become the most expensive work of contemporary art ever sold at auction, fetching 23.8 million dollars at Sotheby's in New York.
Five bidders competed for Smith's "Cubi XXVII" which was the starting lot at a Wednesday evening sale of 54 contemporary works that brought in 114.5 million dollars.
The 1965 sculpture was finally snapped up by Manhattan dealer Larry Gagosian at nearly twice its high estimate of 12 million dollars. (link)
Hattip to Matt Drudge
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