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.

Art Auction Sees Plenty of Bidders, Lower Prices (RGJ.com)