ART MARKET WATCH


Feb. 15, 2008

Can Damien Hirst do no wrong? The charitable (Red) Auction the British artist spearheaded at Sotheby’s New York on Valentine’s Day, Feb. 14, 2008, totaled $42,584,300 -- including a buyer’s premium of 10 percent to cover administrative costs -- with 82 of the 83 lots finding buyers. The total is well above the presale estimate of $21 million-$29 million. The sale set new auction records for 17 artists, including Marc Quinn ($605,000), Banksy ($1,870,000), Howard Hodgkin ($792,000), Keith Tyson ($440,000) and Bernar Venet ($297,000).

...more