Today’s off-season print and multiples sale at Christie’s had a surprising result. The $1,159,313 was pretty good. But the 302 lots sold out of 319 offered for 95% sell-through was astonishing.
What accounts for this success? Obviously, the low estimates attracted numerous bids. The top lot was this Duchamp that sold for $20,000. The next two in value were a Vuillard and Bruce Nauman that each sold for $13,750.
Those numbers suggest the art market still has strong interest from buyers who want to acquire reasonably priced work. Given the economic conditions in the United States, one would have expected something quite different.