Christie's breaks the pounds 1bn barrier
Thursday 09 January 1997
The figures included the first contemporary artist to top $10m since the 1980s boom when Willem de Kooning's Woman sold for $15.6m (pounds 9.5m) in New York. It also took in the record pounds 5.3m paid for an Old Master drawing, Raphael's Study for the Head and Hand of an Apostle sold in London, and two important sales of works by Monet which fetched the third-highest auction price for the artist. Le jardin de l'artiste a Vetheuil and Nympheas each sold for $13.2m (pounds 8m) when the collection of Mr and Mrs Charles W Engelhard, the family behind the minerals group of the same name, was auctioned in New York in November.
Lord Hindlip, chairman, said: "Sales this year have increased by a healthy amount, despite there being fewer large single-owner collections sold than in 1995. The growth was broadly based, with increases in most regions and almost all categories of works of art, reflecting the strength of our international network."
Unlike the boom of the 1980s, there were fewer Impressionist paintings last year and an upsurge in demand from the Far East. Peter Blythe, finance director, said there had been fewer of what he called secondary quality Impressionist items selling at lower prices. Some of the less celebrated works of Monet and Renoir, which would have made very high prices in 1989, had been selling for "more reasonable" prices.
Separately, the much smaller Phillips said sales through its auction rooms had climbed 16 per cent to pounds 114m last year. It said the establishment of a permanent saleroom in Geneva, where turnover was up 49 per cent, had boosted the figures.
- 1 Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
- 2 Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
- 3 Kim Kardashian 'nude pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
- 4 Alex Salmond: 'The rocks would melt with the sun before I'd ever set foot in the House of Lords'
- 5 Ice Bucket Challenge: US firefighter Tony Grider dies after participating in charity craze near power lines
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...