U2 singer Bono and Damien Hirst, the U.K.'s wealthiest artist, are backing a $40 million AIDS charity auction of art that previews today at Sotheby's in London before heading for New York.
``The (RED) Auction,'' devised by Bono and Hirst to raise money for HIV/AIDS treatment in Africa, features $8 million of works donated by Hirst including a heart-shaped butterfly picture, ``All You Need is Love,'' with a top estimate of $1.5 million. More than 100 artists offered art for the New York sale on Valentine's Day, Feb. 14, auction house Sotheby's said in an e- mailed statement to be released today.
``I remember when I couldn't give my art away, it wasn't long ago either,'' Hirst said in the statement.
The proceeds will go to the United Nations Foundation's fund to support HIV/AIDS programs in Africa, Sotheby's said. RED is an AIDS charity that has worked with companies including Motorola Inc.
Bono, the lead singer of the Irish rock band, is a backer of RED. Hirst, known for his diamond skull and a pickled shark owned by hedge-fund manager Steven Cohen, donated seven works to the charity auction, Sotheby's said. He has a fortune valued at 130 million pounds ($267 million) by the London Sunday Times.
Newly made art by Hirst, Sarah Lucas, Keith Tyson and Gary Hume will be on show in London. Artists who have offered works for the auction include Georg Baselitz, Cecily Brown, Anish Kapoor, Richard Prince, Ed Ruscha and Marc Quinn, Sotheby's said. Collectors can see more of the art at Gagosian Gallery in New York's Chelsea district from Feb. 4.
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