Christie’s Inaugural Sale of Prototypes Doesn’t Build a Beachhead
Christie’s Contemporary Design sale (previewed here) brought in $1,161,500 with premium. There were 30 lots and 21 sold making the sale 70% sold. Of the top lots, only the Hadid stools sold above the high estimate once the premium was included. Ron Arad was the overall star of the sale.
The curious turn of events here is that the prototypes in this sale should have combatted the problem of over-supply in the design market. By definition, these are unique works. But design market is either feeling the pressures of the credit crunch or the momentum in the field has slowed of its own dynamic.