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Your Weekend Entertainment Quix Fix: Record-Breaking Basquiat Painting Leads Christie's $318 Million Contemporary Sale

May 14, 2016

 

It was a packed house at Christie’s post-war and Contemporary evening sale on Tuesday night. Judging by the crowd, you’d think times are much more flush than they really are. But, apparently nothing brings out the 1 percent like whispers of a cooling art market. Are they looking for a good deal? Or do they just want to see the bubble slowly burst?

 

Sotheby’s may have set a terrifying tone Monday night with its disappointing Impressionist and Modern art sale, but Christie’s faired far better on Tuesday. Their evening sale totaled $318.4 million, with premiums, and landed just between pre-sale estimates of $285.6-398.2 million, with 87 percent of the 60 lots on offer sold.