Sotheby's February Contemporary art sales concludes in London

Sotheby's February Contemporary art sales concluded on February 13 in London having realised a combined total of £104,528,650 ($172,140,855/€127,224,837).

The February 13 sale attracted strong bidding, realising an above estimate total of £16.5 million ($27.5 million/€20.2 million), and with a strong sell through rate of 82.6%. The total pre-sale estimate was £11.5-16.2 million.

Alex Branczik, head of Contemporary Art London, said in an email statement: ""There's huge energy and excitement in the market at the moment, and it's been fantastic to see that energy focussed in London these last few days. Today's collectors know what they want, and they will go to great lengths to get it.""

Some notable results from the sale include Zao Wou-Ki's abstract 15-11-88 from 1988 made £746,500, more than doubling its pre-sale estimate. Sotheby's made a record for the artist with the sale of his 1958 work Abstraction for £8.9 million ($14.7 million) at Sotheby's Beijing in December 2013. Andy Warhol's iconic Dollar Sign, a present from the artist to Jade Jagger and dedicated 'to Jade' on the reverse, attracted considerable interest, going on to exceed its £250,000 high estimate and sell for £362,500.