London Sales Help Art-Market Recovery
Collectors played it safe at recent London auctions but bought enough works to keep the art-market recovery on track
Over the past two weeks, collectors competing in London’s summer auctions largely played it safe, paying premiums for classic works by modern masters like Wassily Kandinsky, Max Beckmann and Andy Warhol. Yet they took home enough to keep the recovering art market on track.
Sotheby’s gave the series another boost Wednesday by selling Warhol’s 1963-64 self-portrait for $7.7 million, but older artists dominated the round overall.
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