Colin Gleadell breaks down Phillips de Pury’s BRIC sale by country:
China won hands down at Phillips de Pury & Co’s second Bric contemporary art sale last week, so named after the acronym for the world’s four fastest growing economies – Brazil, Russia, India and China. Vastly reduced in size from last year’s 375 lots that brought £7.1 million, last week’s 190-lot sale brought in £6.5 million, but again saw half of the lower-value lots go unsold. In spite of input from British collector Frank Cohen, India struggled with just nine out of 34 lots, selling for barely £500,000.
Brazil saw only half of its 37 lots sell for close to £1 million and was outpointed by Russia, which sold just over half of its 57 lots for over £2 million. The only country to meet its pre-sale estimate was China, which notched up closer to £3 million, selling two thirds of its 69 lots, the largest contingent of the sale.
Art Market News (Telegraph)
