Christie's held its New York Important Old Masters Sale on Wed the 28th. The sale generated $14.19 million in sales including buyers premium. 210 lots were offered and 137 sold a 35% buy in rate. The lowest price was $1,750.00 and the highest brought $1.76 million (F. Urbino, John the Evangelist, see image), with an average lot sale of approximately $103,500.00. The London Old Master sales in early December showed similar buy in rates, and all things considered, the current results are not bad.Looking at the top ten sales, there was a mix of lots selling above the reserves, between the reserves and below the reserves. Pretty typical from a quick glance. Although as posted on the AW Blog before, Old Master sales have more stability and less volatility in their sales than modern and contemporary. The February sales of modern, impressionist, and contemporary art will be interesting to watch, and compare the results from similar sales held during the 4th qtr of 2008.
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