Works from the acclaimed Essl Collection of contemporary art have set a new record at Christie’s in London.

Described as “one of the most important private collections of Post-War and Contemporary Art in Europe”, the Essl collection is comprised of more than 7,000 works acquired over 50 years by the renowned Austrian couple Agnes and Karlheinz Essl. The forty three works on offer on October 13 featured a strong selection of German artists, including the most important grouping of Sigmar Polke artworks ever auctioned, as well as major international names from the world of contemporary art.

In total, thirty nine of the artworks were snapped up by bidders as the auction soared to a final result of £46,861,500 ($75,306,431) and a sell-through rate of 91% - making it the most successful single owner sale of Post-War and Contemporary Art ever held at Christie’s in London.

Around half the lots on offer exceeded their estimates, with many selling for double or even five times their expected prices. Leading the collection was Gerhard Richter’s 1970 painting ‘(Clouds (Window))’ which sold for £6,242,500, followed by Sigmar Polke’s ‘Indian with Eagle’ which realized £5,122,500 ($8,231,858). The collection of five Polke works achieved a combined total of £16,252,500 ($26,117,770).

Further notable results included ‘English Mineheads’ by Bernd & Hilla Becher which sold for an artist auction record of £242,500 ($389,698), and ‘Aggregate’by Antony Gormley which sold for £1,258,500 ($2,022,410) against an estimate of just £150,000-£200,000.

“Christie’s is delighted to secure the future of the Essl Museum with a very tightly curated selection of masterpieces of Post-War German Art, married with their American counterparts,” commented Francis Outred, Chairman & Head of Post-War & Contemporary Art, Christie's EMERI.

“In true museological fashion, they charted the evolution of art history since WW II. In a month of retrospectives of Anselm Kiefer and Sigmar Polke in London, it was great to see outstanding prices achieved for Polke and Baselitz, which confirmed the growing market confidence in German Post-War art.”

“Although it is not easy for us to part from these works, I am delighted that Christie’s has found buyers who will enjoy them as much as my wife Agnes and I did,” said Karlheinz Essl following the sale.

“We are equally delighted that through the proceeds of this sale, the long term future of the Essl Museum is now secured. This will allow us to continue our extensive exhibition program and to show works from our permanent collection which focusses on 20th Century and Contemporary Austrian art framed by international artists such as Baselitz, Richter and Polke, of which the Essl Museum’s collection continues to hold several works.”