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RSS FeedsAt Sotheby`s, it was `no froth, no excitement.` That`s the new normal
(Artdaily.org)

 
 

16 november 2019 08:35:45

 
At Sotheby`s, it was `no froth, no excitement.` That`s the new normal
(Artdaily.org)
 


If French Israeli telecommunications entrepreneur Patrick Drahi, who bought Sotheby’s in June in a deal worth $3.7 billion, needed proof that auctions are unlike any other business, he got a clear introduction to that reality during this week’s unpredictable sales. On Tuesday night, Sotheby’s saw a 40% drop in its impressionist and modern art sales compared with the equivalent sale last May. By Thursday, the auction house was heartened by the $270.6 million total of its contemporary art sale — although that, too, was 28% lower than the spring total. To drive home the fickleness of the salesroom, Christie’s, on Wednesday, achieved an auction high for an Ed Ruscha work, fetching $52.5 million for the Prince of Pop’s 1964 word painting “Hurting the Word Radio #2.” The following night, Sotheby’s, on the other hand, couldn’t even manage to sell Ruscha’s egg yolk on silk, “She Gets Angry At Him,” from the


 
46 viewsCategory: Culture > Art
 
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