ART MARKET WATCH
Nov. 13, 2008$113.6 MILLION AT CHRISTIE’S CONTEMPORARYChristie’s New York
sale of contemporary art on the evening of Nov. 12, 2008, totaled $98,480,000 ($113, 627,500 with premium), with 51 of 75 lots finding buyers, or 68 percent. Although several new auction records were set (see below), as a rule the hammer price of sold lots was less than the presale low estimate. Overall, the sale came in at about half of its total presale low estimate of $227 million.