Word: auction
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Dates: during 2000-2009
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...pictures of the items available in the auction...
...blue and pink carpet), which went for twice Christie's estimate. Similarly, a Constantin Brancusi sculpture valued at up to €20 million ($25,877,114) sold for €29,185,000 ($36,792,835). In all, more than 700 items are up for sale at the three-day auction, which Christie's believes could bring in as much as €300 million ($384 million). (See pictures from the auction...
...about the market, the dealer, based in Monte Carlo, Monaco, was staggered by Monday's sale, which also netted records for Piet Mondrian (two of the Dutchman's paintings sold for eight-digit figures), Giorgio de Chirico, Marcel Duchamp, Paul Klee and James Ensor. "It was the most amazing auction I've ever seen," Nahmad said on the main floor just after the last lot sold. "There are still a lot of rich people in the world, and I think they are anticipating a future inflation. Governments are going to be printing more and more money." (See pictures of money...
...auction market, of course, has its own unique calculation, driven as it's said by the incalculable "price of two people's desires." Surprisingly, the only disappointment on Monday was that a late Cubist work by Picasso - Musical Instruments on a Table, which had the highest presale estimate, of some $30 million - went unsold. The Saint Laurent-Bergé auction continues on Tuesday and Wednesday with the sale of rare furniture and antiquities, including two Chinese animal heads that Beijing says were pilfered and must be returned to China. Earlier on Monday, a Paris court rejected China...
...Giovanna Bertazzoni, head of Impressionist and modern art for Christie's London, is hoping that Monday's record results will give a boost to future sales, after several auctions have taken place with extremely limited supply. "This was a special case," she said of the Paris auction. "But we hope that this will help us unearth more masterpieces, to convince others that this is a good time to sell. We see tonight that people very much still want to invest in art." Nevertheless, the same logic - and the shaky world financial system - may yet convince collectors to hold...