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Damien Hirst sale beats the credit crunch

Damien Hirst’s new auction of art works has broken all the estimates to bring in a record total of £70.5m ($125m), with still more works for sale.Hirst has proved that the credit crunch has had no effect at the top end of the art market . His auction has caused a feeding frenzy amongst dealers and collectors .
The British artist has used the auction house Sotheby’s instead of the traditional art dealer.
It is the first time an artist has sold a substantial body of work this way.
Sotheby’s say the sale has set a new record for a sale dedicated to one artist.
The works for sale include The Golden Calf – a bull in a tank of formaldehyde, with its head crowned by a gold disc – which sold for £9.2m ($16.5m).

The extraordinary body of new work to be showcased at Sotheby’s is among his best yet.The Kingdom – a tiger shark also in formaldehyde – which sold for £9.6m ($17.2m). It had been estimated at about half that price.
The Black Sheep with the Golden Horn, another animal in formaldehyde, sold for £2.6m, within its £2-3m estimate.
The auction, entitled Beautiful Inside My Head Forever, was the first of three that will sell a total of 223 art works by Mr Hirst.
The second and third sessions are due to take place on Tuesday.
Mr Hirst has called the auction a “mini retrospective” and “probably the most amazing show I’ve put on”.
It has been called a landmark sale , but that the artist says galleries can be snobby and elitist.
A spokesman for the auction house Sotheby’s said: “The extraordinary body of new work to be showcased at Sotheby’s is among his best yet – ambitious, exquisite and incredibly powerful.”

Art news from Photogold art gallery

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Jack Vettriano’s The Olympian

Jack Vettriano’s portrait of Zara Phillips is titled The Olympian. Vettriano revelaed the portarit to phillips on the Sport Poraits on BBC1 last night . Th Vettriano’s obvious relief , zara liked the painting . The pressure was on vettriano and he looked a worried man until Phillips gave it the OK . The painting will be auctioned in aid of Sport relief , the Comic relief fund raising event this year

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Early Vettriano paintings for sale

Two paintings by Jack Vettriano go up for sale at auction today.One of the paintings, called Gathering Shells, is a rare example of the Fife artist’s watercolour skills and could attract interest from the keenest collectors of his work. Initial estimates say it will sell for between £2000-£3000, but it could go for much more if a bidding war broke out among collectors.

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Art lovers head for Edinburgh Art Fair

Visitors to next month’s Edinburgh Art Fair, now in its third year, will find work from around the world being displayed by 70 galleries from across the UK and Europe. Bargain hunters will mingle with art lovers looking r for up and coming artists .People who paid £3 for a print of a work called The Little Seamstress – a collaboration between Demarco and Ian Hamilton Finlay – found that when they sold it 25 years later, it was fetching £1000.

“Limited edition prints can be a good investment,” says Andy Naismith, an organiser of the art fair. “A publishing house might decide to produce a limited number of prints using high quality materials and sell them at a fraction of the price of the original. But when the prints, which are usually hand signed by the artist, are all sold, if an artist becomes collectable, you might find at auction that collectors are prepared to pay thousands.”