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London Street-Art Auction Disappoints

Mon, 29 Sep 2008 00:00:00 EST

Works by Banksy and other graffiti painters failed to sell in London Saturday as buyers stayed away from an auction of Contemporary and urban art. Less than a third of the 270 lots found buyers at Lyon & Turnbull's sale, which was the latest gauge of demand for street art after prices surged to records in the last three years. Dealers said demand, reduced by worries about the economy and confusion about the authentication of Banksy's pictures, may be an ominous sign for the mainstream art...



China's new rich in $256 million auction

Mon, 29 Sep 2008 00:00:00 EST

Singapore — Chinese collectors are expected to spend $256 million at an auction that should see the work of local artists fetching record prices. The sale, which opens next weekend in Hong Kong, will also provide a stark illustration of the new distribution of global wealth as the West suffers. In recognition of the rise of a new generation of Asian super-rich, eager to own Asian cultural artifacts once traded in London or New York, Sotheby's has shifted all of its sales of Asian art to Hong...



Rare Female Portrait by Francis Bacon Up for Sale

Thu, 25 Sep 2008 00:00:00 EST

A Francis Bacon painting of his friend Henrietta Moraes, one of the few women the artist painted, is expected to fetch as much as $13.9 million when it comes up for auction in London. The 14-inch-high head-and-shoulders portrait, showing the sitter turning to her left against a plain yellow background, will be included in Christie's International's October 19 sale of contemporary art, the auction house said in an e-mailed statement. The sale takes place on the concluding Sunday of the Frieze...



Elton John's Brooch Up for Sale

Wed, 24 Sep 2008 00:00:00 EST

A sapphire-and-diamond brooch worn by singer Elton John in one of his music videos will go under the gavel this week. The Art Deco piece is shaped like a "J," and was worn by Mr. John in the 1988 music video "I Don't Wanna Go on With You Like That." It is expected to fetch $22,000 when it goes up for sale at Bonhams auction house in London on Thursday. The 1930s-era brooch has brilliant-cut and baguette-cut diamonds and oval-cut and circular-cut sapphires. Despite the growing global financial...



Munch's 'Vampire' Heads to Auction

Wed, 24 Sep 2008 00:00:00 EST

Edvard Munch's "Vampire," a dark, brooding painting of a woman with cascading red hair kissing a man's neck, may set a new record for the Norwegian artist when it goes on the auction block this fall. The 1894 work, which has been in private hands for more than 70 years, is expected to bring $35 million at Sotheby's on November 3. In May, Munch's "Girls on the Bridge" sold for $30.8 million, setting a record for the artist. The "Vampire" painting, also known as "Love and Pain," caused a stir...



Victorian Never Looked So Good

Tue, 23 Sep 2008 00:00:00 EST

If Sir David Scott was anything like his peers in the 1920s, then he would have spent his lunchtime dining at one of the Pall Mall clubs. But Scott preferred to bike around London's West End and visit art galleries, a habit that helped him amass one of the greatest collections of Victorian art in the 20th century. Sotheby's American preview of the Scott Collection is on view until tomorrow evening at the York Avenue showroom. It is a chance to see works by artists that have only recently met...



Christie's Adds $130M Fall Auction

Mon, 22 Sep 2008 00:00:00 EST

A splashy Morris Louis painting that once brightened a living room in Connecticut could find a new home at a $130 million Christie's International auction on November 5, a day before its big-ticket Impressionist and Modern art sale. The newly added auction includes 60 lots from the estates of a pair of wealthy New York-area widows, Rita Hillman and Alice Lawrence. The sale is stocked with blue-chip work from Mark Rothko, Édouard Manet, René Magritte, and Paul Cézanne. Christie's said an early...



Sotheby's Stands Tall With Hirst

Tue, 16 Sep 2008 00:00:00 EST

Although the world's capital markets were in a tailspin, a potent combination of formaldehyde, butterflies, and skulls in London kept the market for art by Damien Hirst as strong as ever. Sotheby's auction of the celebrity artist's new works smashed sales records yesterday. The evening sale portion of Mr. Hirst's "Beautiful Inside My Head Forever" collection at Sotheby's headquarters established a new auction record for a single work: "The Golden Calf," an enormous bull calf encased in a...



Hirst's Shark Sells for $17m at Auction

Mon, 15 Sep 2008 19:03:10 EST

LONDON — Sotheby's auction house has sold a pickled shark by British art provocateur Damien Hirst for 9.6 million pounds (US$17 million). Today's sale kicked off a two-day auction of the artist's work that is expected to generate more than 65 million pounds (US$116 million). Sotheby's said it expects the sale to set a new record for an auction of works by just one artist. Mr. Hirst is selling more than 200 new works at auction rather than through a gallery. He has said it is a more democratic...



Sotheby's Stock Falls Prior to Hirst Sale

Mon, 15 Sep 2008 00:00:00 EST

Sotheby's shares fell 9% last week to their lowest level since June 2006 amid concern the global art market can absorb only so many dead animals in formaldehyde. Sotheby's said in July that it expects to realize more than $114 million in its auctions today and tomorrow of new Damien Hirst works in London. The inventory of more than 200 lots includes a tiger shark in formaldehyde, a zebra in formaldehyde, a calf in formaldehyde, and a foal in formaldehyde. The sale, which also features paintings...



Damien Hirst's Fear of Failure

Thu, 11 Sep 2008 00:00:00 EST

Sotheby's is full of bling. Diamonds twinkle next to iridescent butterflies. Spots dance before the eyes. Spin-painted Day-Glo skulls dazzle from the walls. Dead animals with golden accessories stare out from tanks. The Damien Hirsts on show are undoubtedly fun, but the mood among the viewers is not uniformly sparkly. "Did he actually paint that?" one man is saying, looking at a picture of a skull on an armchair. "Of course not," says his companion. "Hirst can't paint." That was on Friday...



Freud's Bacon Portrait Could Fetch $12M

Mon, 8 Sep 2008 00:00:00 EST

A Lucian Freud portrait of Francis Bacon may fetch up to $12.4 million at a London auction, Christie's International said Sunday. The unfinished oil-on-canvas work, one of only two oil portraits Mr. Freud painted of his fellow artist, will be offered in the October 19 Contemporary art sale, the auction house said in an e-mailed statement. Mr. Freud started the 14-inch-square portrait in 1956. By the following year, only the face of the planned head-and-shoulders work was completed. Bacon left...



Sotheby's Sues CNET Founder for $16.8 Million in Fees

Thu, 4 Sep 2008 00:00:00 EST

Sotheby's, the world's largest publicly traded auction house, sued Halsey Minor, founder of CNET Networks Inc., for not paying $16.8 million for the purchase of works of art including Edward Hicks's "Peaceable Kingdom." The suit, filed yesterday in Manhattan federal court, claims Mr. Minor bought Hicks's biblically inspired painting and two other works in May and hasn't paid for them. The works are worth more than $13 million and the auctioneer said it's also owed legal fees, interest, and late...



Christie's Will Have Dedicated Contemporary Design Sale

Thu, 4 Sep 2008 00:00:00 EST

When artist Marc Newson's "Pod of Drawers" sold for $1.048 million at Christie's Post-War and Contemporary Art sale in May 2007, it was enough of a premium — some $300,000 more than the estimate — to get Christie's specialists thinking that it was high time to devote an auction solely to Contemporary design. "That was a crystallizing moment for us," a vice president at Christie's, Carina Villinger, said. "We realized that Contemporary design had tremendous crossover appeal and that the market...



Report: Hirst Auction Critical To Market Confidence

Wed, 3 Sep 2008 00:00:00 EST

The outcome of Sotheby's auction of new works by Damien Hirst is crucial to the overall confidence of the contemporary art market, according to a report published yesterday by the research company ArtTactic. The research was compiled by the London-based company's founder, Anders Petterson, before the "Beautiful Inside My Head Forever" sale of material from Mr. Hirst's studio, which Sotheby's expects to fetch at least $117 million. Mr. Petterson examined how Mr. Hirst's works have performed at...



Hirst in the Hamptons

Thu, 28 Aug 2008 00:00:00 EST

In a goodbye to summer and a kickoff to the fall art season, Sotheby's is hosting a party tonight at the Bridge, a golf club in Bridgehampton, to preview the works in Damien Hirst's upcoming auction, "Beautiful Inside My Head Forever." The sale, which will take place in London on September 15 and 16, includes 223 works, all made specifically for the auction. There are numerous works from each of Mr. Hirst's most popular series, including spin paintings, butterfly paintings, pharmaceutical...



Sotheby's Australian Sales Disappoint

Thu, 28 Aug 2008 00:00:00 EST

Half the lots offered at Sotheby's auction of Australian paintings were unsold as the nation's stock market slide quelled demand for art, the company said. Sotheby's sold 114 of 228 items offered in Melbourne over two days, tallying $5.8 million. Last year, the New York-based company sold 65% of lots, according to Sotheby's data. This year's priciest item was Russell Drysdale's 1962/63 oil portrait of farmer "Rocky McCormack," which fetched an artist auction record of $1.61 million. "What's...



Sotheby's: Qing Dynasty Scroll Could Fetch $10M

Wed, 27 Aug 2008 00:00:00 EST

A Qing Dynasty imperial scroll that shows China's Emperor Qianlong leading 16,000 troops may fetch more than $10.2 million in Hong Kong, the auction house Sotheby's said. The 15.5-meter Dayue Tu is the third of four hand scrolls commissioned by Qianlong (reign: 1735-96) in 1746 to show his military might, according to Sotheby's. Two of the scrolls are missing and a third is in Beijing's Palace Museum, Sotheby's, which has its main salesrooms in New York, said. The scroll is among the top lots...



Sotheby's Will Preview Hirst Sale in Hamptons, New Delhi

Fri, 22 Aug 2008 00:00:00 EST

Sotheby's is to hold invitation-only previews of Damien Hirst's $120.8 million sale of new artworks in the Hamptons — and New Delhi. On August 28, VIPs will be able to view 10 highlights from next month's "Beautiful Inside My Head Forever" auction in the summer haven on the East End of Long Island. A reception will be at the Bridge Club, Bridgehampton, the auction house said last night. Two days earlier, a similar reception featuring 14 works will be held 7,000 miles away in the ballroom of New...



Captain Cook's Boomerang Heads to Christie's

Fri, 22 Aug 2008 00:00:00 EST

A boomerang acquired by Captain Cook on his first voyage to Australia in 1770 may fetch up to $120,000 at a London sale, Christie's International said. The boomerang is being sold with two wooden clubs also believed to have been acquired by the explorer, and which are estimated at $40,000 to $60,000, the auction house said. They are being sold September 25 by a descendant of John Leach Bennett, a beneficiary of the will of Captain Cook's widow Elizabeth, Christie's said. "It's all in the...



Sotheby's To Sell British Guns

Wed, 20 Aug 2008 00:00:00 EST

Every serious sportsman knows that by late August, the Scottish Highlands offer an array of riches. Grouse season is a couple weeks under way. Deer stalking is at its peak, and the fly-fishing doesn't get any better. Sotheby's annual sale of antique sporting guns at the Gleneagles Hotel in Scotland is popular this time of year because winning bidders can walk out the door and take to the field with their elegantly engraved rifles and shotguns. City bankers and sundry members of the English...



Highlights From the Scottish School

Tue, 19 Aug 2008 00:00:00 EST

The auction world might be busy preparing for the major fall sales, but there's one sign that the dog days of summer aren't over quite yet. Sotheby's holds its Scottish & Sporting Pictures sale at the Gleneagles Hotel on August 26. A laid-back, late-summer event, it has been attracting a diverse crowd of art aficionados to the Highlands for four decades. "Buyers nowadays are more receptive to all eras of British painting. It's a very fun crowd at the Gleneagles," the head of Scottish Pictures...



Sotheby's Will Move Asian Auctions to Hong Kong

Thu, 14 Aug 2008 00:00:00 EST

Sotheby's said it will cease holding auctions of Asian Contemporary art in New York and "consolidate" them instead in Hong Kong, with biannual sales in the Asian city. Sotheby's said it will organize dedicated auctions of Chinese, Japanese, Korean, and Southeast Asian art in April and October in Hong Kong, starting next year. Its September 17 sale of such Asian works in New York will be its last in the city, a Hong Kong-based Sotheby's spokeswoman, Rhonda Yung, said in an interview Wednesday...



Sotheby's To Follow Hirst Sale With ICA Auction

Tue, 12 Aug 2008 00:00:00 EST

A Sotheby's auction — in which an unprecedented amount of art that has come straight from an Damien Hirst's studio will be sold — will precede another sale by London's Institute of Contemporary Arts. On September 15 and 16, Sotheby's will be holding Mr. Hirst's "Beautiful Inside My Head Forever" sale, which is expected to fetch $125 million, according to the New York-based auction house. A month later, during the week of the Frieze Art Fair, Sotheby's will be selling more new works by Mr. Hirst...



Overlooked at Christie's

Mon, 28 Jul 2008 00:00:00 EST

The Metropolitan Museum of Art's purchase of a previously unknown drawing by the Netherlandish artist Lucas van Leyden is a coup for the museum and its visitors, but something of an embarrassment for Christie's, whose specialists overlooked the drawing when it was sold there in 2005. The 16th-century drawing, depicting the Archangel Gabriel, was sold at a sale of "Maritime Pictures and Watercolours" at Christie's South Kensington in June 2005. It was included in an album of landscape sketches...



Prints At Studio Prices

Mon, 28 Jul 2008 00:00:00 EST

What does $2,000 get you in the art market today? More than you might think. At Christie's mid-season print sale on Thursday, many pieces have estimates that resemble the price of the monthly rent on a one-bedroom apartment in Manhattan. "What's appealing to many people about a mid-season print sale is that the price range is for the most part below $5,000 a print," a specialist in the print department at Christie's, Tudor Davies, said. And the names of the artists are good ones. A number of...



$8M Qing Dynasty Vase Heads to Auction

Wed, 23 Jul 2008 00:00:00 EST

A Qing Dynasty vase that fetched $3,574 in 1971 may sell for $8 million in December at Christie's International's auction of Chinese antiques. The imperial vase, painted with flower sprays and enameled butterflies, is part of a collection that once belonged to the wife of the late art dealer J.T. Tai. The 151 artworks are being sold by the Ping Y. Tai Foundation in three auctions in New York and Hong Kong starting September 17, Christie's said in a statement. The sale may raise a combined $28...



Christie's To Launch Design Sale

Tue, 22 Jul 2008 00:00:00 EST

Christie's will hold its first ever sale dedicated to contemporary design on September 8, the auction house announced Monday. The sale of 30 lots will include pieces by Marc Newson, Forrest Myers, Zaha Hadid, Ron Arad, Maarten Baas, Shiro Kuramata, Ettore Sottsass, and Harush Shlomo. Estimates range from $6,000 to $300,000, and the sale is expected to generate a total between $1.2 million and $1.7 million...



Numbers Up at Christie's in First Half of Year

Fri, 18 Jul 2008 00:00:00 EST

Christie's International said auction and private sales increased by 10% worldwide in the first half of 2008, driven by new buyers from the Middle East, Russia, and Asia. Christie's sold $3.6 billion of art and collectibles over the six months, compared with $3.2 billion in the same period a year earlier, according to an e-mailed statement today. Auction sales include London-based Christie's fees. Auctions held by Christie's and its rival Sotheby's have been boosted by demand from billionaires...



Beatrix Potter Watercolor Sets Record

Fri, 18 Jul 2008 00:00:00 EST

Beatrix Potter's original watercolor illustration from the final scene in her children's book "The Rabbit's Christmas Party" sold for $578,000 at Sotheby's in London Thursday. The illustration surpassed its estimate (between $80,000 and $120,000) by a factor of almost five, and is now the most expensive book illustration ever to be sold at auction...



Christie's Names Head of Its Asian Operations

Fri, 18 Jul 2008 00:00:00 EST

Christie's International has appointed the chief operating officer of Christie's Americas and director of operations for Christie's International, Andrew Foster, to the newly created role of president, Asia. Mr. Foster is charged with managing the development and growth of Christie's programs in Asia and strengthening relationships with top clients in that region. He also has direct responsibility for the auction house's Asian offices. Mr. Foster, who joined Christie's in 1999, adds the new job...



Christie's Will Sell YSL's Art Collection

Thu, 17 Jul 2008 00:00:00 EST

Christie's International said it will be selling the art collection of Yves Saint Laurent and Pierre Bergé in Paris in February 2009. The auction will be held in association with Pierre Bergé & Associates, the Paris auction house owned by the fashion designer's former business partner, Christie's said Wednesday in an e-mailed statement. The specific date and contents of the sale have yet to be announced, London-based Christie's said. Saint Laurent died last month, aged 71. He and Mr. Bergé, who...



James Brown Auction Will Go Forward

Wed, 16 Jul 2008 00:00:00 EST

The estate of James Brown, the late "Godfather of Soul," can proceed with a sale of photographs, awards, and musical instruments on July 17, according to auction house Christie's International in New York. The South Carolina Court of Appeals ruled today that the auction of property from Brown's estate can go ahead, Christie's spokeswoman Sara Fox said in an e-mail. The sale of Brown's possessions, originally ordered by a judge in February to pay legal bills and estate taxes, has been tied up by...



Battle of Britain Plane for Sale

Tue, 15 Jul 2008 00:00:00 EST

For sale: used airplane, nearly complete, fragile, single seat, by modern standards slow and uncomfortable. Sixty years old. Price: about $2 million. Serious collectors of aviation and military memorabilia are being sought by an auction house that's selling an original U.K. World War II fighter. The former Royal Air Force Supermarine Spitfire was built in April 1945 and is said to be one of only 44 airworthy examples of the fighter, which played a key part in the Battle of Britain. "The sale of...



Old Masters Perform at Sotheby's London

Thu, 10 Jul 2008 00:00:00 EST

Frans Hals's "Portrait of Willem van Heythuysen, Seated on a Chair and Holding a Hunting Crop" sold for $14 million at the Sotheby's Old Master Paintings Evening Sale Wednesday night in London. The painting sold for $14 million, exceeding its estimate of between $5.8 million and $9.9 million. The subject of the portrait is a wealthy textiles merchant, whom Hals painted in the mid-1630s. Another highlight of the sale was J.M.W. Turner's "Pope's Villa at Twickenham," which sold for $10.68 million...



Goya Boosts Christie's Drawings Sale

Wed, 9 Jul 2008 00:00:00 EST

Goya's "Bajan riñendo" sold for a surprising $4.5 million at Christie's Old Masters and 19th Century Drawings London auction Tuesday, more than double the $2 million estimate. The drawing was one of three Goya drawings that highlighted Tuesday's sale. "Repentance" sold for $1.9 million and "Constable Lampiños Stitched Into a Dead Horse" sold for $1.5 million. The drawings came from Goya's private albums, a series of 550 works that the artist created during the last 30 years of his life...



Rediscovered Watteau Sells for $24M

Wed, 9 Jul 2008 00:00:00 EST

Jean-Antoine Watteau's "La Surprise" (1718-19) bested expectations at Christie's Old Master and British Pictures London sale Tuesday night, selling for $24.39 million. The painting, thought to have been destroyed until a year ago when it was found in the drawing room of a British country estate, had been estimated to sell for between $5.9 million and $9.8 million. Watteau's contemporaries had regarded the painting as one of his greatest works. Another highlight of the sale was Sir Anthony Van...



Ten Works Set Records at Sotheby's Contemporary Auctions

Wed, 2 Jul 2008 11:18:18 EST

A Richard Prince 'Nurse' and an Antony Gormley 'Angel of the North" were among 10 works to set records for their makers at Sotheby's contemporary-art auction in London, where a Francis Bacon portrait was the star attraction and Irish rock band U2 among the sellers. Bacon's status as the world's most expensive postwar artist was bolstered last night by the sale of a painting of his lover, George Dyer, which fetched a top price of 1$27.5 million with fees. Sotheby's is testing demand after...



Monet and Money

Wed, 2 Jul 2008 00:00:00 EST

As consumers tighten their budgets and cope with a global economic downturn, the art world would be the last place one would expect to find a thriving market. Yet, even as house prices collapse, stocks plunge, and commodity prices spike, prominent art collectors are spending huge numbers of dollars on famous works of art. "The international art market is extremely robust and now operating at levels we haven't seen for over 15 years," a Christie's spokesman, Rick Pike, told The New York Sun. A...



Bacon, Basquiat Lead Sotheby's London Auction

Wed, 2 Jul 2008 00:00:00 EST

Francis Bacon's "Study for Head of George Dyer" (1967) was the top seller at Sotheby's strong Contemporary Art Evening Auction Tuesday, selling for $27.4 million. Another highlight was Jean-Michel Basquiat's "Untitled (Pecho/Oreja)," created in 1982-83, which sold for $10.1 million. The painting had been estimated at around $10 million, and came from the collection of rock band U2. In total, the sale generated $188.9 million for the auction house...



Contemporary Sale Disappoints at Phillips

Tue, 1 Jul 2008 00:00:00 EST

A 1996 adults-only installation by Paul McCarthy with a top estimate of $4 million was unsold at Phillips de Pury's London auction last night, the priciest flop in a sale where one in three lots didn't find buyers. Mr. McCarthy's "Bunk House," featuring a dog-headed bartender and a bare-bottomed blonde in a Western setting, was one of 31 artworks that didn't sell at Phillips, the first of a series of contemporary-art auctions in London this season that's expected to fetch as much as 329 million...



Solid Sales at Christie's London Auction

Tue, 1 Jul 2008 00:00:00 EST

Jeff Koons's "Balloon Flower (Magenta)" (1995-2000) sold for $25.6 million at Christie's Post-War and Contemporary Art evening sale in London yesterday. The piece, which has been on display in London's St. James's Square for a week, had been estimated at $24 million. Other highlights of the sale were Francis Bacon's "Three Studies for Self-Portrait" (1975), which sold for $34.3 million, and Lucian Freud's "Naked Portrait with Reflection," painted in 1980, which sold for $23.4 million. The works...



Contemporary Auctions Poised To Take Off

Fri, 27 Jun 2008 00:00:00 EST

When Jeff Koons's "Balloon Flower (Magenta)" sculpture went on display in London's St. James's Square last week, the members of the many gentlemen's clubs nearby were among the first to realize that the Contemporary sales of the major auction houses were approaching in a major way. "In the center of the square is an equestrian statue of William III and now, on one end, is a Jeff Koons sculpture. This sort of thing was sure to stir things up in St. James's Square," a Christie's spokesman...



Sotheby's Names Buyer of Artek Pavilion

Thu, 26 Jun 2008 00:00:00 EST

A gallery for modern and contemporary furniture, Sebastian + Barquet, was the buyer of the Artek Pavilion, a structure sold at the June 14 Sotheby's Important 20th Century Design sale, the auction house announced Wednesday. Sebastian + Barquet plans to use the pavilion to showcase exhibitions by some of its major designers, the gallery says. The pavilion was designed by Japanese architect Shigeru Ban and is made of a wood-plastic composite, a new material that comes from scrap plastic and paper...



Severini Record at Sotheby's London

Thu, 26 Jun 2008 00:00:00 EST

A painting by the Italian Futurist artist Gino Severini sold for $29.6 million including fees, a record for the artist, at a Sotheby's auction of Impressionist and Modern art in London on Wednesday. The sale brought in a total of more than $200 million. The brightly colored 3-foot, 3-inch-high canvas, "Danseuse" (1915) had not been seen on the auction market for more than 80 years. It had been expected to fetch up to $20 million, Sotheby's said. The seller of the painting had been guaranteed a...



A Rare Titanic Original for Sale

Wed, 25 Jun 2008 00:00:00 EST

While James Cameron's film "Titanic" revived interest in the historic tragedy, the 1997 movie supported an extensive market for forgeries of material connected to the doomed ship. "The reality is that 99% of the things associated with the Titanic are replicas and reproductions," the specialist and head of sale for today's Ocean Liner auction at Christie's, Gregg Dietrich, said. "Someone recently approached us with a bunch of Titanic items that turned out to be from a museum gift shop." The...



Monet Sets a Record at London Auction

Wed, 25 Jun 2008 00:00:00 EST

A large Claude Monet water-lilies painting from 1919, "Le bassin aux nymphéas," sold for $80.5 million at Christie's robust sale of Impressionist and Modern art in London Tuesday night. The painting, from Indiana industrialist J. Irwin Miller's private collection, had been estimated between $36 million and $47 million and is one of the largest and last of Monet's water lilies. The sale broke the previous Monet record of $41.4 million, set last month at a Sotheby's auction in New York. Edgar...



McEnroe Set To Sell Warhol Portrait

Tue, 24 Jun 2008 00:00:00 EST

Former tennis star John McEnroe is selling a portrait Andy Warhol made of him and his ex-wife Tatum O'Neal at Sotheby's in London next week, the auction house said Monday in an e-mailed statement. Warhol's acrylic and silk-screen portrait of the celebrity couple is expected to fetch up to $687,000. Proceeds will benefit Habitat for Humanity, a nonprofit Christian organization that provides housing through an international network of volunteers, Sotheby's said. The portrait was made in 1986...



High-End Sales Drove Recent Auctions

Tue, 24 Jun 2008 00:00:00 EST

Billionaires such as Roman Abramovich are propping up the top end of the world's Contemporary art market, while some cheaper pieces worth less than $500,000 are struggling to sell, according to a survey published today. "Recession-proof" buyers such as Mr. Abramovich and the Al-Thani family of Qatar are making the market for the highest-quality items priced at $1 million and more, the London-based research company ArtTactic Ltd. said. The wealthiest buyers operate independently from...



In London, Will Moderns Move?

Mon, 23 Jun 2008 00:00:00 EST

Nothing heralds the arrival of the summer auctions quite like a vibrant seaside scene — be it in the hand of Claude Monet, Lyonel Feininger, or even René Magritte. Both Sotheby's and Christie's are holding significant Impressionist and Modern evening sales in London this week, a far cry from the days when the auction market would traditionally cool down for the season. "We're seeing a very strong market for top quality Impressionist paintings this summer," the vice chairman of Impressionist &...