AUCTION REVIEWS

A Tale of Two Markets

By Judd Tully

Published: January 1, 2008

Jean Baptiste Camille Corot Andy Warhol Pablo Picasso Alberto Giacometti Henri de Toulouse-Lautrec Henri Matisse Egon Schiele Auguste Rodin

Send a letter to the Editor

Save to Del.icio.us

Digg this

At the end of the rocky evening, another Sotheby’s specialist told Art+Auction, “We were unlucky tonight, and the others were very lucky last night.” That might be, but Wall Street gave the company a beating the next day, sending Sotheby’s stock plummeting 28 percent.

It’s still too early to say with any certainty if this sale marks the end of the art market’s skyward climb, but it serves as a warning sign of what may come if the houses do not proceed with prudence.

"A Tale of Two Markets" originally appeared in the January 2008 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's January 2008 Table of Contents.