People Bidding at a Christie's Auction
If anyone needed one more piece of evidence that America is going through an economy crisis, they have it now.
The latest painting auction organized by the New York auction house Christie’s has been a major disappointment.
Famous paintings by Cezanne, Manet, Renoir and Klee have not found their buyers this time.
Out of the 30 paintings, 7 were not sold at all, and many of the others were sold at lower prices than they have estimated.
Composition métaphysique, by Giorgio de Chirico, was sold for the highest price, 6.1 million dollars. Christie’s was also happy with the price they got on L’empire des lumières, by Magritte, which was of 3.5 million dollars.
The same thing happened to Sotheby’s this week; they have registered the worst auction sale since May 2001, and they did not manage to sell more than one third of famous paintings by Modigliani, Van Gogh and even Picasso.
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Loading ...This post was written by Dana Ciucalau on November 6, 2008
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