London Auctions: Disappointing Sales and Record-Breaking Prices
Christie's 20th/21st Century evening sale in London generated £63.8 million ($81.1 million) in sales, with most lots selling below or near their low estimates. While blue-chip artists like Alberto Burri and Cy Twombly sold below their estimates, works by Edgar Degas, Damien Hirst, and David Hockney exceeded their high estimates. The auction focused on portraiture, and the highest-selling artwork was Signac's landscape painting, which sold for £6.7 million ($8.5 million). Overall, the sales results reflected Christie's strategy of presenting the right works at the right estimates, with some contemporary artists setting new auction records.