Word: auction
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...sale of 20th century Chinese artwork on Oct. 5, two-thirds of the 110 lots failed to sell, and many of the pieces that did find buyers went for below their estimated prices. By the close of the biannual sales of the world's largest publicly traded art auction house, Sotheby's took in about half what it had expected, at just over $140.7 million...
...lack of enthusiasm was not reflected in the auction rooms, which were well attended over the weekend with collectors from throughout the region, including Singapore, China and Indonesia. But Zhao Wuji's "7 Aout 2000" sold for $543,156 - over $44,000 short of Sotheby's low-end estimate of $587,500 - and several pieces, including paintings by star contemporary Chinese artists Zhang Xiaogang and Yue Minjun, went unsold at the modern and contemporary Asian art sale on Oct. 4. Many say the unimpressive results were a combination of already overinflated price estimates and the dismal economy. "Particularly with...
...famed investor Warren Buffett recently did with Goldman Sachs. Or the Feds could avoid carrying equity by lending money to financial institutions willing to buy up questionable bank assets at discounted rates. But first the Treasury seems ready to dip into its $700 billion to establish a reverse auction set-up to ensure that the government doesn't pay too high, or too low, a price for the distressed securities. The auction system will likely take at least a month...
...logos. Yue Minjun’s trademark is fashioning representations of his face while smiling (in every medium imaginable), and then, of course, there is the work of Zhang Xiaogang whose black-and-white paintings of 1950s era Chinese families have sold for upwards of US$2 million at auction. While these men are undoubtably the blue chip artists of today, they have not risen to the top without critical dissent...
...Good Story, Bad Taste I was impressed by Richard Lacayo's article on Britain's Damien Hirst and his $100 million Sotheby's auction [Sept. 15]. He is a great artist. TIME has, over the years, built itself a reputation of good story-writing and my family has been reading it for the past 20 years. I, a 13-year-old, have seen a flaw that has been bothering me for quite a while: the use of vulgar language (or evidence thereof). When I read TIME, I do not expect to read nonsense, and if I wish to read something...