Art auction lifts hope for industry rebound

Sales of Impressionist and modern art at Sotheby’s auction house rake in more than $181 million, surpassing estimates.

By Chris Kokenes, CNNMoney.com. November 6, 2009.

NEW YORK (CNN) — A recent sale of Impressionist and modern art at Sotheby’s auction house exceeded sales estimates and raised the hopes of industry insiders that a rebound is under way.

Sotheby’s reported total sales of $181,770,000 on Wednesday night and featured five works that sold for more than $10 million. The auction house initially thought it would take in $115.3 million.

“Wonderful,” said Emmanuel Di Donna, Sotheby’s vice chairman, Impressionist and modern art worldwide, director of evening sales.   Read the rest of the story.

Source:

http://money.cnn.com/2009/11/06/news/international/art_auction.cnnw/?postversion=2009110615

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About Art Collecting and Investment

Providing news about art collectors, collections and investments. Including the how to's, the why's and the where's of art collecting. Wanda Pepin, Christina Madden and Elaine Frenett are all professional artists who keep up on the world of art, while creating amazing works of art themselves.
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