“Oh come on Patti, we will be here all night!”As trying as the bidding was, it was worth it in the end for Sotheby's. The entire sale made £136m with nearly a 77% sell-through rate confirming Christie's decision to let the category settle where it may instead of trying to project confidence through higher sell-through rates as both houses have come to do with Contemporary art. Sotheby's held a much smaller sale than Christie's but wound up in nearly the same place with the sale buy-in rates. The Master, Judd Tully, confirmed the feelings of the market with this quote:
“What did we learn from this week?” queried Guy Jennings, managing director of the London based Fine Art Group, “nothing flew away and tonight it was like pulling teeth. It was painful to behold. The market is pretty solid without being crazy and it’s tough to get the really good things.”
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