2007 in Review: Auction Lots We'll Remember

NEW YORK—After a tumultuous year defined by staggering prices and revved-up worries about the continuing strength of the market, ARTINFO takes a brief look back at some of the high and low standouts in the international auction arena.

There’s no real rhyme or reason to this list of five works apart from their hangover effect on pricing and expectations in subsequent sales.

It’s clear that owners of great art with an inclination to sell remain in the catbird seat, dictating outlandish, envelope-busting terms to salivating auction specialists who live and die, or so it seems, on the success or failure of their evening sale spectaculars, which have become closely watched entertainment episodes.

Both Christie’s and Sotheby’s, not to mention boutique player Phillips & de Pury, have sunk millions in an ever-escalating marketing game, hoping a blockbuster lot will add some luster to their brand names.

It’s worth noting, though, that very few remember which house sold the last record-breaking, market-defining work. The price, yes; the house, no.

Click on the photo gallery at left to read about five signature lots from 2007.

Judd Tully is Editor at Large of Art & Auction.