Word: auction
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Dates: during 2000-2009
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...Contemporary Chinese art is currently one of the hottest genres anywhere. In the past 18 months Sotheby's has created a stand-alone modern-Chinese-art division, and Christie's showcases the art alongside such modern masters as Andy Warhol and Willem de Kooning. And at a Christie's auction last week in New York City, pieces by Chinese painters Li Songsong and Yan Lei set record prices, while Zhang Xiaogang's A Big Family Series No. 16 went for $1.36 million, surpassing its highest estimate. The Warhol Mao, of course, dwarfed all those sales, going for $17.4 million, suggesting...
...purchase of a large painting by Zhang Xiaogang at an Oct. 15 London auction by British collector Charles Saatchi suggests there's every reason to believe that the tide of interest from overseas will continue to rise. Saatchi paid about $1.5 million for one of the artist's Bloodline series. Still, New York City--based collector Larry Warsh believes he got a good deal. "Saatchi is coming in late, but he's important because people follow him," says Warsh, publisher of the magazine Museums and an enthusiastic advocate of contemporary Chinese art. "It will soon prove to be a bargain...
...Even Undergraduate Council President John S. Haddock ’07 did not have a ticket by last evening, he said in an e-mail. But one place Harvard students can still find tickets is on eBay, where one Harvard senior posted two endzone tickets for auction. The pair sold at 10:30 p.m.for $105. Face value for an individual ticket sold to the public is $30. Harvard has no official ticket scalping policy, Hobin-Audet said, because it’s not usually an issue. “Other than Harvard-Yale, there aren’t very many...
...Picassos and Rembrandts. But times have changed. Now it's a spectacularly rich man's sport, as evidenced by the bidding frenzy that took place last week at Christie's in New York City, where $491 million worth of Impressionist and modern art changed hands--the priciest art auction in history. Gustav Klimt's Portrait of Adele Bloch-Bauer II sold for $87.9 million, obliterating the presale estimate of $40 million to $60 million. Three other Klimts--part of a collection stolen by the Nazis during World War II and recently returned to the owner's heirs--fetched a combined...
...Goghs to the stratosphere. (Saito paid $82.5 million for Portrait of Dr. Gachet.) Dotcom entrepreneurs with Internet funny money bought Impressionists and Pop Art. Today a new generation of hedge-fund billionaires and Chinese and Russian kleptocrats is part of an ocean of capital flowing into galleries and auction houses. "There seem to be no limits to what people will pay, and in every kind of art," says art-tax specialist Ralph Lerner, whose clients include some of the country's biggest collectors...