ART MARKET WATCH
Oct. 27, 2008Christie’s New York
dubbed its special evening auction on Nov. 5, 2008, of works from the Alice Lawrence
and Hillman Family
collections "The Modern Age," but as it turned out the sale reflected contemporary market conditions all too closely. The impressive total for the two-estate sale, an addition to the usual evening calendar, was $47,039,500 (with premium), with 41 of 58 lots finding buyers, or 71 percent. The total, however, was less than a third of the presale high estimate of $150 million.