centerlogobigAAD logo



Starting on the Evening of November 4, 2014 Sothebys rolled out a most impressive line up of fine art for auction. There was a buzz in their galleries not seen in decades. Propelled by the strength of three lots, a Modigliani, a van Gogh and a Giacometti, those three alone sold for $233,455,000. That entire evening sale grossed $422,110,000, including buyers premium.

Unfortunately they should have quit while they were ahead because of the next $1.7 billion to be spent on art in New York City for the next two weeks, 70.3%, or $1.213 billion of it would be spent at their arch rival, Christie's. Not surprisingly the CEO of Sothebys, William F. Rupprecht, stepped down last week.

The feeble results of this weeks American paintings sale where the sole star was a Georgia O'Keeffe was this, brown remains down and 20th century art reigns supreme in the marketplace. Despite having written a glowing review of the Sothebys Impressionist and Modern sale several weeks ago, these numbers don't lie. The market's strength is in the absurd high end contemporary, and at Christie's too.

two weeks image 2

two weeks image 3

two weeks image 4

The Manet bought at Christies for $65 million wound up with the Getty Museum, Los Angeles, CA

About the Author

Robert Alexander Boyle

Robert Alexander Boyle

 Alexander Boyle is a graduate of Trinity College, Hartford, CT where he majored in History. Prior to graduation he co-authored the seminal book Acid Rain in 1983. Alex has worked for the Metropo...