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NEWS ABOUT: art auction

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Russians Smash Records at Sotheby's Sale

Recession-defying London art auction brings in $230M

(Newser) - Sotheby's held its most successful sale ever of modern and impressionist art in London last night, with Russian collectors leading a buying frenzy on a day stock markets tumbled. The auction house sold 67 lots worth $230 million—topping high estimate, Bloomberg reports. "There was a lot of buying... More »

Contemporary Art Scores for Auction Houses

Sales swelled 36% in 2007; some fear houses too invested in the new

(Newser) - Contemporary art has been very good to Sotheby’s, fueling a 46% boost in sales for the world’s second-largest auctioneer this year over last, Bloomberg says. A crop of new collectors from the US, Russia and Asia brought new records for artists like Francis Bacon and Jeff Koons, for... More »

Art Market Sails Over Turmoil

Weak dollar, overseas buyers help keep prices high

(Newser) - US financial markets were in chaos this year, but the art market certainly wasn't. The expanding ranks of the super-rich, the weak dollar, and emerging connoisseurs from Russia, China, India, and the Middle East kept auction houses in fine form, the AP reports, with postwar and contemporary works—including a... More »

Gauguin Sculpture a Fake

'The Faun' outed as impostor after decade in Chicago art museum

(Newser) - After a decade on display at the Art Institute of Chicago, a ceramic figure allegedly sculpted by Paul Gauguin was revealed yesterday to be a fake. The museum discovered 'The Faun,' a half-man, half-goat figure, to be the work not of the 19th century French artist, but of a... More »

Rich Ruskies Buy Back Their Heritage

Billionaires snapping up art that left the country under Soviets

(Newser) - The super-rich of the new capitalist Russia are busy buying back a treasure trove of Russian art, much of it bought up on the cheap by foreign collectors after the 1917 revolution. This week, a throng of Russian billionaires walked away with most of the good stuff from a series... More »

Rockwell Santa Painting Sells for $2.17M

Prices for magazine cover originals may be heading north

(Newser) - Straddling the line between art, illustration, and extravagant Christmas gift, Norman Rockwell's "Extra Good Boys and Girls" raked in $2.17 million at a Christie's auction this week. The painting, originally a 1939 Saturday Evening Post cover, didn't hit the $2.5 million to $3.5 million estimate, but... More »

Matisse Pulls Impressive $33.6M

Art world breathes easier after first night of stellar sales

(Newser) - A nervous New York art world breathed a sigh of relief on the first night of the fall auctions yesterday when a Matisse painting fetched a whopping $33.6 million, far above its high estimate. Collectors and dealers are watching November's sales at Sotheby's and Christie's with anxiety, reports the... More »

$72M Sale Shatters Warhol Record

Auction madness continues as contemporary-art market sizzles

(Newser) - An Andy Warhol painting sold for $71.7 million last night at Christie's, more than quadrupling the previous record price for a work by the pop artist. The price for "Green Car Crash (Green Burning Car I)," part of Warhol's "Death and Disaster" series, more than doubled... More »

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