Christie's Auction
I cannot believe the prices paid for artwork at the Christie's Auction on Wednesday night. Almost everything sold for more than the high estimate, for a total of $384.6 million. It set a record for the most successful sale of contemporary art ever. $71,720,000 for Warhol's Green Car Crash, pictured above. That's an incredible amount of money for a single piece of art.
Labels: auctions
posted by Cassandra at 9:45 AM
1 Comments:
Auctions like this can lead to false expectations among artists and collectors.
“The truth of the matter is, 99.9 percent of all contemporary art will never be worth more than what you paid for it,” says Barney Ebsworth, one of the nation’s top collectors, ... “It’s always nice to talk about the winners, and there are big winners. But there are far more losers than there are winners.”
That was from a recent blog post in the Wall Street Journal: http://blogs.wsj.com/wealth/2007/05/16/art-prices-run-amok/
Post a Comment
<< Home