Christie’s sets record for Basquiat at contemporary art auction

THE ART NEWSPAPER |  Ermanno Rivetti:

Christie’s post-war and contemporary evening sale last night (10 May) produced solid results—a relief for the New York art market after Sotheby’s patchy Impressionist and Modern sale which failed to reach its lower estimate on 9 May. The Christie’s auction made a hammer total of $277.4m ($318.4m with premium) against an estimate of $280m-$391m, with a sell-through rate of 87%. Of the 61 lots on offer, 15 achieved hammer prices equal to or above their upper estimates, 22 went within estimate, and 15 sold below… Read more

Image: Christie’s post-war and contemporary evening sale on 10 May. Image: Christie’s Images LTD 2016