ART MARKET WATCH


May 16, 2008

$1.9 MILLION FOR MOCA L.A. AT PHILLIPS
Phillips, de Pury & Co. launched its evening sale of contemporary art in New York on May 15, 2008, with a benefit auction for the Museum of Contemporary Art, Los Angeles, and raised a total of $1,909,000, selling all 29 donated lots -- the buyer’s premium, which can add another 20 percent or so to the final price, was waived -- and setting records for eight artists in the process.

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