Christie’s Dubai sale continues today with watches, gems and jewelry. But yesterday’s picture sale found buyers for three quarters of the 166 lots and totaled a strong $6.7m but below the pre-sale estimate:
The $6.7 million was an increase on the $4.76 million made at the last art sale in April with a similar number of lots up for bidding, but down on pre-auction estimates of between $8.1 million and $11.8 million. […]
“Remembrance and Gratitude” broke a previous record of $657,500 set by the sale of a work by the same artist at a Christie’s auction in October 2007.
“There was good competition for pieces tonight … There were some very sensible prices paid, much more realistic than previous years,” Jussi Pylkkanen, Christie’s regional president, told Maktoob Business following the auction.