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Alice Neel
Robert Smithson
1962
$698,500
Christie’s New York
Nov. 5, 2008
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ART MARKET WATCH


Oct. 27, 2008

Christie’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.

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