Results are in for this weekend’s sale of Western art in Reno, Nevada. The Reno Gazette Journal reports:
The Coeur d’Alene Art Auction at the Silver Legacy Resort Casino grossed about $8.5 million in five hours, a number down from years past, including in 2008 when more than $39 million in art was sold. The highest-priced piece, an oil painting depicting Native American artistry by Eanger Irving Couse, sold for $650,000 to an out-of-state phone bidder.
“It’s interesting because three years ago that piece might have sold for $3 or $4 million,” said Peter Stremmel, one of three partners in the Reno-based event. […] Last year, a Mian Situ oil painting, “Moving on the Yuba River — Gold Seekers,” sold for $350,000. On Saturday it sold for $100,000.
He said the turnout was good, with about 400 in-person, 200 phone, 50 Internet and 40 absentee bidders from around the country. It was the first time the auction allowed Internet bidding, which accounted for about 12 bids this year.