First NFT photo Twin Flames auctioned at Christie’s photographic sale

By Raffaele Redi

Justin Aversano’s NFT image sells for $1.1m, over ten times its estimate

Time The Future of Business NFT                                 
Time The Future of Business NFT - Photo: SuperRare
                                

Justin Aversano’s Twin Flames is the first non-fungible-token (NFT) sold in a Christie's photographic auction.

The piece, Twin Flames #83 “Bahareh & Farzaneh,” will be the only NFT in the Christie's sale, along with  physical artworks by traditional photographers such as Ansel Adams, Diane Arbus, and Hiroshi Sugimoto.

The work experienced high levels of interest from clients in the room and on the telephones, after four minutes of competitive bidding, it sold for $1.1m, over ten times its low estimate, to a buyer in the room, according to Christie’s that auctioned it off.

The artwork was part of a Photographs auction at Rockefeller Center, achieving a total of $4.7m. 

Aversano explained his work: “For Twin Flames I photographed 100 sets of twins in honour of my fraternal twin, aiming to create body of work focused on the existence of multiple births and the phenomena of twindom through an immersive portrait survey.”

The British auction house said the sale also saw a landmark result for Ansel Adams’ Moonrise, Hernandez, New Mexico, 1941, which exceeded its high estimate to sell for $930,000, the highest price is ever seen at auction for this icon image.

“In the work of Justin Aversano, we see a young artist in love with the medium of photography who has concurrently built a vibrant community of NFT collectors and supporters in the digital space. This result of $1.1m, breaking the million-dollar mark, signals that not only does a younger generation of collectors love photography but they are willing to collect it,” said Darius Himes, Christie’s International Head of Photographs.

The Time Magazine NFT monster sale

Elsewhere, on the secondary market, a Time magazine NFT, The Future of Business by the artist Mike Winkelmann known as Beeple, sold for $2.5m or ETH715.5, on the platform SupeRare.

The artwork, depicting the acceleration of the digitisation of the world by creating an image that focused on Beeple artistic process, was part of Time's May 2021 issue.

The cover image depicts Beeple actual computer interface mid-design, complete with a wireframe render of a figure interacting on the left and a more complete version on right.

The NFT, sold in May for $325,569 or around ETH130. Ringers#109 eventually sold for $6.9m.

The artwork is part of the Art Block project. Each output from Ringers is derived from a unique transaction hash and generated in Javascript in the browser. It was auctioned off in January 2021 for just ETH0.1 or $128.

Read more: The mystery behind the Banksy NFT auction

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