Record $2.3B in art sells in NYC in two weeks

Collectors are getting ready to deck their penthouse walls with some $2.3 billion of art, as two weeks of record-setting auctions wrap up in Manhattan.

The auctions beat out this May’s record of $2.2 billion, which itself was 22 percent higher than last November, when $1.8 billion of art was sold, according to Bloomberg News.

“Works continue to do incredibly well,” Christine Berry, a partner in the New York gallery Berry Campbell, said. “People talk about a bubble, but just look at the sales.”

Christie’s set a new record at its November 12 auction, with $852.9 million postwar and contemporary works selling. Sotheby’s also had record-setting day on November 4, with $422 million of Impressionist and modern sales.

One of the showstoppers of the auction season was an all-white Robert Ryman painting from 2001, dubbed “Hour.” The piece sold for $5.2 million, just above its low estimate of $5 million to a single bidder by phone. It was the fourth white painting by Ryman to sell in three days — one of which fetched $15 million.

“Ryman is doing very, very well,” said dealer Robert Mnuchin, who bought one of the artist’s white paintings for $11.4 million. [Bloomberg News]Christopher Cameron

No Comments Yet

Comments are closed