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Sotheby's First Ever Gold Auction Collects $4 Million

Kitco News

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(Kitco News) - Sotheby’s gold auction that featured a gold Ferrari and a gold Kate Moss sculpture among other items collected a total of $3.9 million in sales.

The first ever gold auction, titled ‘The Midas Touch,’ was organized due to rising demand for the precious metal, according to Sotheby’s. The exclusive event was held Oct. 17 in London.

“In a world that speaks over 6900 languages, the language of gold remains universal,” Sotheby’s said in its auction overview. “Taking collectors on a journey through the great civilizations of the world, The Midas Touch puts artists next to artisans, sculptures next to sacred objects, contemporary painting next to ancient jewelry, to present an unrivaled history of nature’s most bewitching creation.”

The most expensive item sold was the Monogold Sans Titre, from Yves Klein’s Monogolds series, which went for $1.3 million.

The work features a gold leaf on wood panel: “Klein’s admiration and adoration for the medium of gold is indisputable in [Monogold Sans Titre], where small strips of gold leaf as light as petals demonstrate the inherent fragility and philosophical aura of this exquisite natural material,” Sotheby’s said.

The second-most-expensive item at the auction was the gold 1977 Ferrari 512 BB, which sold for just over $511,000.

“[This was] the only 512 BB finished in Oro Chiaro Metallizzato over Testa di Moro Fully restored in Modena by marque experts. Just three private owners from new,” Sotheby’s said. “Its paintwork is a seldom seen shade of metallic gold, dubbed Oro Chiaro Metallizzato, which beautifully contrasts with a chestnut brown leather interior, called Testa di Moro. Only four 512 BBs were painted in Oro Chiaro Metallizzato, and only this car left the production line with its interior trimmed in Testa di Moro brown.”

The third most-expensive item at the auction was the solid 18-carat gold head of supermodel Kate Moss, which went for just over 480,000.

The sculpture, titled the Song of the Siren, was created by Marc Quinn in 2010.

“By casting the present work in gold, Quinn manifests an image of luxury and impossible dreams—dreams that nevertheless stand in stark contrast to reality,” Sotheby’s said.

Among many more beautiful gold artifacts and items sold during the auction was a monumental Victorian parcel-gilt silver mounted mirror-plateau/candelabrum and Jean-Léon Gérôme's Corinth sculpture.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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