Art Market Notes from London

Colin Gleadell writing for the London Telegraph has some interesting market notes. Gleadell reports that recent Asian art auctions in London were a great sucess (no surprise here), nearly doubling pre sale estimates, with most bidders from mainland China (no surprise here either).

Gleadell reports that a recent Sotehby's sale in NY of African Art sold for $11.7 million, nearly three times the expected pre sale estimates, and also setting a record at Sotheby's.

He notes that the average price of a Warhol ($3.3 million now exceeds the average price for a Picasso ($2.6 million).

He also notes that even thought Sotheby's has moved its photography auctions to Paris, there are still plenty of photo buying opportunities at auction with Christie's, Bonhams, Phillips and Bloomburrys all scheduled for sales over the next few days.


The Telegraph reports

• Sotheby’s, Christie’s and Bonhams all recorded their highest ever sales in London of antique Asian (predominantly Chinese) works of art last week, mustering some £70 million, almost double the £35 million expected. Chinese buyers dominated as Christie’s raised £27.7 million, Bonhams £21.5 million, and Sotheby’s, with far the fewest number of lots, £20.8 million.

• Sotheby’s, Christie’s and Bonhams all recorded their highest ever sales in London of antique Asian (predominantly Chinese) works of art last week, mustering some £70 million, almost double the £35 million expected. Chinese buyers dominated as Christie’s raised £27.7 million, Bonhams £21.5 million, and Sotheby’s, with far the fewest number of lots, £20.8 million.

• Sotheby’s may have transferred its photography sales to Paris, but this week is a virtual photo-fest in London, with Christie’s, Bonhams, Phillips and Bloomsbury Auctions, all holding sales over the next three days. More than 600 lots are on view, with Bloomsbury offering the most and at the lowest price range, from £200 to £12,000 for a 1855 daguerreotype of a royal reception for Napoleon 111 at Crystal Palace. Highest price is expected at Christie’s for a Peter Beard print of cheetahs in one of his elaborately decorated frames (£50,000 to £70,000). But the vast majority of works, from 19th century, to classic modern, fashion, and contemporary, are in the more affordable range, and under £6,000.

To read the complete Telegraph article, click HERE.