Sotheby’s Consolidated Sales for 2008 were $5.3 Billion

• Consolidated* sales were $5.3 billion
• Auction sales were $4.9 billion
• Sotheby’s sold the top lot of the year, Bacon’s Triptych 1976 ( $86.3 million)
• The world record price for Contemporary Art, Bacon’s Triptych 1976, was set at Sotheby’s in 2008
• Sotheby’s sold the top lot of the autumn season, Malevich’s Suprematist Composition ($60 million)
• Sotheby’s sold the top Contemporary lot of the autumn season, Klein’s Archisponge ($21.4 million)
• Sotheby’s sold six  out of the top ten lots in 2008
• Sotheby’s sold 726  lots for over $1 million
• Sotheby’s sold 114 lots for over $5 million
• Sotheby’s sold 41  lots for  over  $10 million
• Sotheby’s sold 14 lots for over $20 million
• Sotheby’s further reduced lot volume by 38% in 2008

This is Sotheby’s preliminary year-end release. The last item has been a goal for the auction house for some time. Though it is difficult to separate the effect of the market slowdown from Sotheby’s efforts to reduce lot volume.