ART MARKET WATCH
Feb. 29, 2008£95 MILLION AT SOTHEBY’S LONDON
Big spenders ruled at the evening sale of contemporary art at Sotheby’s London
on Feb. 27, 2008, with 56 of 70 lots selling, or 80 percent, for a total of £95,030,000 ($189,423,299). Four lots sold for over £5 million, seven lots for over $5 million, 18 lots for over £1 million and 40 lots for over $1 million. The total is the highest ever for any contemporary art sale in Europe, according to Sotheby’s expert Francis Outred
, and demonstrates "the continued strength of the market."