Christie’s failed to sell 33 percent of the artworks offered in its Impressionist and modern art evening sale in London as collectors rebelled against aggressive estimates and subpar quality.
Yesterday’s tally of 85.8 million pounds ($145.7 million) was about 30 percent lower than rival Sotheby’s (BID) sale the night before. Of the 60 lots offered, 20 failed to find buyers, including works by Pablo Picasso, Piet Mondrian and Alberto Giacometti.
“There was a big difference in quality between the two sales,” said London-based art dealer Pilar Ordovas. “There were many works which would have been better suited for a day sale.”
