The report is available to AMMpro subscribers. (The first month of AMMpro is free and subscribers are welcome to sign up for the first month and cancel before they are billed.)Christie’s follow-up to its new 21st century art sale, which brought in $211 million on Tuesday, was a slightly weightier 20th century art auction with 50 lots and a pre-sale estimate in excess of $345 million. Covering works made between 1880 and 1980, the auction made a grand total of $481.1 million, with just one lot unsold. (Prices for sold works include buyer’s premium; estimates do not.) This week’s marquee sales were bound to be a close call between Christies’s and Sotheby’s. Before they were held, the former’s two sales were expected to bring in $490 million, while the latter’s three-auction marathon the previous evening was estimated at $436 million. But last night’s auction made Christies’s new formula look like a winner. Nine works carried estimates higher than $10 million, so the sale was seen as a test of confidence at the high end of the market.
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