How Far Can Christie’s Transform Art Market?
Fine Art

How Far Can Christie’s Transform Art Market?

How Far Can Christie’s Transform Art Market?

In an increasingly competitive global marketplace for art, Christie’s remains a mysterious company. It is by turns almost recklessly bold and suffocatingly risk adverse. Last night’s Artist Muse sale seems to have captured that duality in a single hour. After amassing an impressive trove of art using its own deep pockets, Christie’s announced as the sale began that it had laid off the risk on the evening’s two top lots, the Modigliani nude and the Lichtenstein Nurse. The latter surely helped the work sell (there seemed to be only one bidder), while the latter cut off the road to making the night’s venture very profitable. Guarantees are hardly the only sign of the house’s divided nature. These carefully orchestrated sales continue to thrust Christie’s into the white hot center of the art market giving the firm a superlative luster. That seems to be Christie’s intention as the press department followed up last night’s record-making sale with a list of the 10 works that have achieved $100m or more at auction. The list evenly divides between Sotheby’s and Christie’s but with Christie’s clearly holding the top spots. Christie’s has achieved the status of most authoritative voice […]

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