Sotheby’s managed to squeeze two sales and a prank into its Frieze week evening auction of contemporary art on last Friday. The first sale consisted of 25 works from the estate of US management consultant David Teiger, all of which sold for a top estimate of £35.9 million ($47.1 million). A well-respected figure on the European circuit, Teiger bought new art from the leading dealers of the ’90s and the aughts—rarely, if ever, at auction.
The sale got off to an electric start with a 2002 painting by German artist Kai Althoff. It attracted bidding from several dealers, including Nicolai Frahm, before racing to a record £574,000 ($753,000).