Warhol Painting Of Mao Tops Auction At Phillips

Warhol's 'Mao' Wows At Auction
This image provided by Christie's auction house in New York shows a portrait of Mao Zedong by Andy Warhol, with two bullet holes put there by "Easy Rider" star Dennis Hopper. Hopper shot two bullet holes through the picture, but instead of earning the wrath of the artist, Warhol honored him by listing him as the work's collaborator. The screenprint will be sold by Hopper's estate during a two-day auction of his collection at Christie's Jan. 11-12. (AP Photo/Christie's Images Ltd. 2010) NO SALES
This image provided by Christie's auction house in New York shows a portrait of Mao Zedong by Andy Warhol, with two bullet holes put there by "Easy Rider" star Dennis Hopper. Hopper shot two bullet holes through the picture, but instead of earning the wrath of the artist, Warhol honored him by listing him as the work's collaborator. The screenprint will be sold by Hopper's estate during a two-day auction of his collection at Christie's Jan. 11-12. (AP Photo/Christie's Images Ltd. 2010) NO SALES

How much can the contemporary art market absorb in just three days? Before Thursday night's sale at Phillips de Pury & Company, the auction giants Sotheby's and Christie's had together sold nearly $1 billion worth of contemporary work by tried-and-true artists including Rothko and Warhol, Pollock and Kline -- much of it for record-breaking prices.

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