Review

Christie’s Old Masters Sale Totals $48.7 M. as Collectors Chase Top Pictures

Christie’s Old Masters Sale Totals .7 M. as Collectors Chase Top Pictures


Since Gustav Klimt’s Portrait of Elisabeth Lederer sold for $236.4 million last November, clinching the title of second most expensive artwork to sell at auction, the secondary market’s mantra can best be summed up as “collectors will open their hearts and their wallets for exceptional work.”

On Tuesday, Christie’s put that dictum to the test with its Old Masters Evening Sale in London, a 40-lot offering that landed comfortably within its pre-sale estimate of roughly £25 million to £37.5 million (excluding fees). In total, Collectors spent £38.9 million ($51.4 million) at Christie’s Old Masters Evening Sale in London on Tuesday, pushing the auction past its pre-sale high estimate as competition for a handful of exceptional works drove a string of artist records.



Source link