Auction buzz

The art world is buzzing with news from the auctioneers. Both Sotheby's and Christie's held their spring Post-War and Contemporary Auctions this week, and things went a little bit better for Christie's.

From the New York Times: (read full article)

One night collectors seemed resistant to part with their cash; the next evening they were clamoring to bid. Such was the auction whiplash that occurred over a 24-hour period. Unlike Sotheby’s sale on Tuesday, where bidding was thin and buyers reluctant, Christie’s auction of postwar and contemporary art on Wednesday showed a different face altogether. It was a buoyant hour and a half during which record prices were set for recognized artists like David Hockney.

The sale totaled $93.7 million, just under its high $104.5 million estimate. Of the 54 works up for sale, only 5 failed to find buyers.


(image - David Hockney's Beverly Hills Housewife brought in $7.9 million for Christie's)