(Red) Auction in NYC

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Feb. 14 (Bloomberg) -- Damien Hirst's heart-shaped butterfly painting, offered tonight at a New York charity auction backed by U2 singer Bono, beat its estimate and sold for $2.2 million before fees to a phone bidder.

The celebrations for the so-called (Red) auction at Sotheby's, which aims to raise as much as $29 million for HIV/AIDS treatment in Africa, kicked off on Wednesday night with cocktails at Larry Gagosian's Chelsea gallery, followed by dinner at his house. They'll continue after the auction with a party at Sotheby's.

``All You Need Is Love,'' an 84-inch red heart with dead butterflies stuck in gloss paint, one of three made by Hirst's studio, was valued at $1 million to $1.5 million.

About 75 artists donated works, including Jeff Koons, the world's priciest living artist, Hirst, the second most expensive, and Richard Prince.

Hirst contributed seven works, mostly made for the sale and priced by Sotheby's at as much as $13.6 million altogether. ``Beautiful RED Spin Painting,'' with a top estimate of $800,000, sold for $1.65 million to a phone bidder. A spotted red Hirst canvas had a high valuation of $1.5 million and went for $2.4 million to London dealer Ivor Braka.

On the block is Hirst's pill cabinet, titled ``Where There's a Will There's a Way.'' Filled with painted antiretroviral drugs, it is valued at $5 million to $7 million.

The auction proceeds will go to the United Nations Foundation's fund to support HIV/AIDS programs in Africa. (Red), founded by Bono, has worked with companies including Microsoft Corp., Dell Inc. and Motorola Inc. to devise products, whose profits go in part to AIDS programs.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net .
 
An auction at Sotheby's organized by rocker-activist Bono and artist Damien Hirst raised over $40 million Thursday night to fight AIDS in Africa.

In kicking off the Valentine's Day sale, to which over 60 top contemporary artists donated museum-quality work, Bono led the crowd in a sing-along of the Beatles' "All You Need Is Love." Auctioneer Oliver Barker also milked the spirit of the holiday to egg the celebrity-packed crowd to raise their paddles, asking after bids, "What is the price of love?"

It seemed to work--pieces by 17 artists sold for the highest prices their work has ever fetched at auction, Sotheby's said.

Three works by the U.K. shock artist Hirst sold for more than $2 million each, with a decorated steel and glass cabinet titled "Where There's A Will There's A Way" going for $7.15 million, including a 10% buyer's premium.

In a first, Sotheby's, the gallery Gagosian and Bono's charity, Red, didn't take a penny to organize the sale. All the proceeds will go to the United Nations Foundation to support HIV/AIDS relief programs in Africa conducted by The Global Fund.

A red-hot crowd of celebrities was in attendance, including Queen Noor of Jordan, hip-hop entrepreneur Russell Simmons, actor-director Ed Burns and tennis great John McEnroe. Supermodel Christy Turlington literally catwalked to the front of the crowd while photos of fellow supermodel Kate Moss were being auctioned.

Before Thursday night's auction, Bono's Product Red project had raised $58 million for The Global Fund.

Bono said he was pleased by the results of the auction, which roughly doubled the expected proceeds of $21 million and pushed his charity's total take close to the $100 million mark.

"It is a historic night for artists, an extraordinary night in New York City. I am very moved."
 
chazman151 said:
Pics coming in..
bfhrwo.jpg


Click to expand...

OMG!!! That look!!! :faint:

Thanks for the pics everyone!
 
Oh my God, waking up to these photos is simply wonderful, thank you all for posting! These are some of the most beautiul pictures of Bono I've ever seen, he looks so happy and Ali is soooo gorgeous, what a great couple, they are glowing! The auction seems to have been phenomenal. Can't wait to see and hear more!
 
emmabergstrom said:
bonovd6.jpg
Click to expand...

I just woke up and this beautiful picture will make my (fri)day :love:

thanks for all pics and links :applaud:

but I already haven't engaged my brain so far :yawn:: why did he wear different in the first pics? :scratch:
 
^ That's a good question. I believe these were two different events and he changed in between. Nice to see that he actually bothered to wear matching glasses with the blue suit.
 
last unicorn said:
^ I believe these were two different events and he changed in between.
Click to expand...

mmm...I guess the between event was interesting then...:sexywink:

...I better start my day now...:wave:
 
Thanks for the pics!
Wow, Bono is looking great! I think he looks younger and more relaxed than in a long, long time. And Ali...she's just her gorgeous self. Oh to find the kind of happiness and love the two of them have. :cute:
 
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