Sotheby’s Sells $750m in Art Over 48hrs, the Art World Shrugs
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Sotheby’s Sells $750m in Art Over 48hrs, the Art World Shrugs

Sotheby’s Sells $750m in Art Over 48hrs, the Art World Shrugs

Sotheby’s IM 1115 After all of the attention focused on Sotheby’s this week to determine the state of the art market it is a bit of a let down to have to say that we’re really no wiser even after the auction house was able to sell three quarters of a billion dollars in mostly Impressionist and Modern art through four sales. To add to the mystery, Sotheby’s was quick to point out that it had sold $576m in Impressionist and Modern art, a wheelhouse category for the firm, even though the market is said to only be interested in Contemporary art. (By the time Friday’s day sale is counted, the firm will be at $600m for the week and $1.7bn for the year.) Many have been predicting some sort of reckoning in art—and today’s jobs numbers and their nearly inevitable effect on the Fed’s decision to raise rates in December may still bring that about—but there’s not enough information in these sales to draw any real conclusions. As Judd Tully points out in his recap of last night’s Impressionist and Modern sale at Sotheby’s, the comparable sale last year was a third higher. The workmanlike results trailed the […]

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