The auction of the world’s most expensive artworks is being held in the U.S. today.
This is the first time that the auction has ever been held in India, and it’s one of the biggest auctions in history, worth a record $1.4 billion (Rs.
6.9 billion) on Thursday, according to Forbes India.
The auction, called “The Most Wanted,” will be held at the Guggenheim in New York, and will run through April 22.
The works sold for an estimated $1,735 million, according the Forbes India website.
The gallery is hosting the auction, which is also expected to attract as many as 1,400 bidders.
The pieces include paintings by Pablo Picasso, Andy Warhol, René Magritte, Pablo Picasa, Jean-Michel Basquiat, Pablo Escobar, Guglielmo Marconi, and Pablo Piccadilly.
The auctions are expected to bring in about $4 billion in revenue, according Forbes India, which also reported that the pieces will be on view for several years.
The museum is expecting a similar number of buyers, but the auction itself is expected to be more expensive than what’s expected, Forbes India reported.
While many of the pieces are believed to be of high-end quality, some have been found to be “slimy” or “degraded” by the auction process, which includes removing the skin and bone from the work and the bones are usually sold separately.
“We have some pieces that are so badly corroded, that we will have to go to the hospital to have them cleaned up,” curator of art at the museum said.
“It’s very sad.”
The most expensive piece sold at the auction will be an oil painting by Pablo Aragon, which was sold for $2.2 million in 2008.
Other pieces sold at this auction include works by Andy Warham, James Joyce, Picasso and Rembrandt.
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