$40 mln raised in Valentine’s Day AIDS benefit at Sotheby’s

Over $40 million was raised in New York on Valentine’s Day to fight AIDS in Africa in an historic auction organized by Bono, Damien Hirst, Sotheby’s, Gagosian Gallery and dozens of donating artists in the (RED) Auction.

The proceeds from the most significant charity auction of contemporary art ever will go the United Nations Foundation to support HIV/AIDS relief programmes in Africa conducted by The Global Fund to Fight AIDS, Tuberculosis and Malaria.

Bono opened the auction with an a capella rendition of “All You Need Is Love” before a star-studded crowd, including Queen Noor, John McEnroe, Takashi Murakami, Martha Stewart, Dennis Hopper, Michael Stipe, Helena Christensen, Liya Kebede, Russell Simmons, Brian Williams, Ziyi Zhang, Ed Burns and Christy Turlington, who purchased Francesco Clemente’s Red Flower on Scorched Earth for $170,500 (lot 61, est. $50/70,000).

The auction achieved $42.58 mln, far beyond its high estimate (est. $21/29 mln), and records were set for seventeen artists, including Marc Quinn, Banksy, Howard Hodgkin, Keith Tyson and Bernar Venet.

Among the many highlights of the evening was Damien Hirst’s Where There’s A Will, There’s

The sale had been preceded by a preview exhibition of the works at Gagosian Gallery in Chelsea.