Sultry Lover Sets Record at Chilly New York City Art Auction
As an arctic blast sent shivers through New York on Tuesday evening, champagne flowed at Sothe’s , where art dealers and collectors gathered for a sale of Impressionist and modern art.
The auction raised $208.9 million, within the estimated presale range, but down 34% from a similar event last November. Rival Christie’s Impressionist and modern art evening sale on Nov. 11 was down 31% from a year ago, at $191.9 million. Both auctions were lackluster yet efficient, with 84% of works sold at Sotheby’s and 90% at Christie’s. The houses lowered reserves, allowing many pieces to go below their estimates.