Auction of postwar and contemporary art Christie's brought less than $100 million
ARTinvestment.RU   17 февраля 2020

The results of the first large London auction houses after the "Breccia" to Christie's were the lowest for the last 10 years

Regarding the February auction of 2019 the overall figures fell by 16 %, however, the failure of the auction house, these trades can not be named. With the hammer gone all the lots except one, and the total value sold was $72.7 million So low to Christie's financial result is primarily due to the quality of the directory, i.e. the lack of important works.

the Reasons are two. In-первых, after the fact "of Breccia" (and before that — annual expectations and doubts whether he is or not) sellers are hesitant to trust the London trades the most valuable items, which is understandable.

Another reason — kind of a generational change of senior staff in the Department of modern art: after retiring last year, the longtime head of the Department Francis Outred is only the second major bid for a young team in London. Here — is weak compared to the main competitor, the auction house Sotheby's, catalogue. While among the top-лотов Sotheby's had just six sentences with a starting price above £5 million, Christie's couldn't find your directory no.

In the end, the most successful deal in the evening auction was the sale of "Muhammad Ali" by Andy Warhol: lot left under the hammer for £4.9 million But the most expensive work directory "Mosque" (The Mosque) Jean-Мишеля Basquiat, buyers in the room is not found. Work, which estimate was £4–£6 million, was sold for £3.9 million ($5.1 million) to a third party prior to bidding guaranteed buy back value.

Not all of the artists of the first level met in the auction room, the reception, the organizers hoped the auction, however, several modern authors have updated personal records. In particular, £515 thousand earned the song "Mother" 31-летнего Jordan Kasteel (USA), nameless and colorful composition Gunther Forg (Germany) raised the record price author up to £1.3 million.

the Material was prepared by Maria Kuznetsova AI

Sources: news.artnet.com, christies.com