Bloomberg’s Scott Reyburn recaps yesterday’s London sale of Impressionist and Modern art. Among the results was some serious spin from all sides. Dealers sniff at the estimates:
“Pictures that carried too high estimates were shunned by a responsible audience,” said London-based dealer James Roundell. “If works were correctly priced, then there was interest. Overall, the message was actually quite positive.” [ . . . ]
Auction House experts reassure the client base:
“This sale sent out a very positive message to this market and to the art market as a whole,” Melanie Clore, deputy chairman of Sotheby’s Europe, said. [ . . . ]
And the business-getters fret over some missed opportunities:
Some potential buyers were unable to view the sale because of London’s heaviest snowfalls since 1991, and this was a “slight factor” in the performance of certain lots, said Sotheby’s specialist Mark Poltimore.
“If you want to spend two million pounds on a painting, you want to see the work,” he said.