NEW YORK - 68% of Contemporary Works Sell at Christie's auction
Posted on November 13, 2008 at 8:34 PM.
Christie's International sold $113.6 million of contemporary artworks in New York last night, half its presale low estimate, as auction prices tumble with financial markets.
Almost a third of the 75 lots found no buyers in a salesroom that included tennis great John McEnroe, actress Salma Hayek and billionaire Eli Broad. Among the rejects was the projected top lot, a self-portrait by Francis Bacon that Christie's had estimated would sell for about $40 million.
Christie's Confirms Art Slump as 68% of Contemporary Works Sell (Bloomberg)
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