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Artist Illustrated Fiat 500 Sells for $85,000 - VIDEO ENHANCED

LONDON - October 17, 2007: The first of four new Fiat 500 cars illustrated by renowned English artist, Tracey Emin, has been sold at auction for £42,000 ($85,422).

The work, entitled ‘I Told You Not To’, is one of four specially designed and painted examples of the supermini, which have taken the art world by storm. Described as taking Emin’s work “quite literally out of the gallery and on to the street”, the cars have created the first moving exhibition of its kind.

The 500 went under the hammer for $85,000 last Saturday (13 October) during the Contemporary Art Auction at the Phillips de Pury & Company saleroom in London.

Proceeds from the sale will go to the artist’s chosen charity PEAS, which is raising funds for a school library in Uganda. Additional funds will also help establish future Fiat art projects in London.

The three other 500s with Emin designs will also be offered at auction, one before the end of the year and two in 2008.

“I really enjoyed working on the Fiat 500, which I refer to as the ‘mouse car’,” said Tracey Emin.

The Fiat 500 range goes on sale throughout the UK with a choice of petrol and diesel engines and three trim levels, in January 2008.