A contemporary art auction spearheaded by U2 frontman Bono and British artist Damien Hirst drew a star-studded audience Thursday night and raised more than $42 million for programs battling HIV and AIDS.
Organized by auction house Sotheby’s and Manhattan’s Gagosian Gallery, the so-called (Red) Auction — named for Bono’s fundraising effort battling AIDS in Africa — offered up 83 works by artists including Hirst, Jasper Johns, Jeff Koons, Banksy, Tracey Emin, Willem De Kooning and Julian Schnabel.
According to Sotheby’s, all but one of the evening’s lots sold, and the $42.5 million US the works brought in dramatically eclipsed the approximately $29 million US organizers had set as a pre-sale estimate. Proceeds from the auction are earmarked for the United Nations Global Fund and its programs against HIV, AIDS, tuberculosis and malaria.
Speaking in New York Thursday night, Bono dubbed the night “historic” and praised the artists (or their estates) for donating the red-themed works that crossed the block.
“They’re the heroes tonight,” said the singer and activist, who also led a celebrity-packed crowd in an a cappella rendition of All You Need is Love.
Hirst works fetch top prices
Selling for $7.15 million US, the night’s top item was, as expected, Hirst’s Where There’s a Will, There’s a Way — one of his pill cabinet installation pieces that he filled with medications used to treat HIV.
Hirst, who donated seven pieces for the auction, had five of the evening’s top 10 lots, for which Sotheby’s lowered its commission to 10 per cent.
The auction house said commission fees collected from Thursday night’s auction would be used to fund the cost of the sale, with the remainder also to be donated to the UN Global Fund.
Among the famous faces gathered for the sale were actor and longtime modern art collector Dennis Hopper, Jordan’s Queen Noor, publishing giant and TV host Martha Stewart, hip hop mogul Russell Simmons, R.E.M. singer Michael Stipe, former tennis pro John McEnroe and former model Christy Turlington.
CBC.ca with files from the Associated Press
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One Response to “Bono’s charity art auction nets $42M”
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February 15th, 2008 at 8:27 pm
A night full of heroes, indeed. It really warms the heart to see all the incredible things that RED is doing. Props to Bono, as well. Why I might not be the biggest U2 fan in the world, I definitely think he is an amazing individual. The fact the Sotheby’s waved all the donation fees is also amazing.