After a week of negotiations, the winning telephone bidder — which the auction house described in an Instagram post as a “longstanding client” who is a “female European collector” — is going through with her purchase at its original price. Half of the image is still visible in its heavy, gold frame, while the other half – now simply a skirt of shredded paper fringe — dangles below it. Sotheby’s, which boasts that the new work “was created in our salesroom,” is now calling the piece “the first work in history ever created during a live auction.”

Source: Los Angeles Times October 12, 2018 00:11 UTC