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Wednesday, 03 February 2016 11:07

Christie’s Impressionist and Modern Art Auction in London Nets $138 Million

An auction at Christie's. An auction at Christie's. Wikimedia Commons

With art market pundits anticipating a ‘chill' in 2016, Christie's opening salvo was conversely mild, and without too many portents of gloom. But it wasn't on fire either. The sale realised £95.9 million ($138 million), including premium, or just around the lower estimate of £83.6-123 million without premium. A tolerable 22 lots, or 25 percent of the 89 lots, went unsold, including only 2 in the category of works selling for £1.7 million ($2.5 million) or more. But just as many lots sold to bids either on or below the low estimates.

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