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Christie’s and Sotheby’s have won their gamble. The Impressionist & Modern Art sales on 2 and 3 February in London generated one global all-segment record and 29 results above £1m out of 87 lots offered. Christie's managed to sell 87.5% of its lots for £61m (est. £48m-69m) plus the £8.5m from its special session devoted to surrealist art.
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- [02/08/2010]
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This wednesday February 3rd, Sotheby's London's evening sale was a time for a new world record. L'Homme qui marche I, Alberto GIACOMETTI 's human-size bronze was auctioned £58M (£65M premium included), for a £12M-18M estimate, and is now the most expensive artwork ever auctioned.
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- [02/04/2010]
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Christie’s and Sotheby’s apparent price optimism for their Impressionist and Modern sales on 2 and 3 February 2010 is equally visible in the catalogues for their Contemporary Art sales on 10 and 11 February. The two majors are expecting a combined total of £69m from their evening sales, a figure which would represent a 54% more than February 2009 high estimate.
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- [02/01/2010]
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Since the peak in January 2008, the price index of Impressionist art has contracted sharply: down 39.3%. But for Christie’s and Sotheby’s – judging by the high estimates in the catalogues for their upcoming London sales – the price deflation is now over.
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- [01/25/2010]
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As expected, auction revenue figures for contemporary artists in 2009 contracted quite substantially (divided by 14 in the case of Damien Hirst, and by 3 in the case of Jeff Koons). However, for all that, the market is not in bad condition. The loss of the speculative element has essentially allowed prices to settle back to 2004 levels.
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- [01/19/2010]
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The first decade of the new millennium saw the emergence on the global art market of contemporary art from Latin-America, China, Korea, Japan, Russia, Turkey and the Middle-East. By comparison, African art has been very slow to emerge… but for how long?
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- [01/11/2010]
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