Postwar & Contemporary Art

Christie’s
54 lots offered
£72,930,500 ($143.1 million) sold total
12 percent unsold by value
31 percent unsold by lot

Sotheby’s
70 lots offered
£95,030,000 ($189.4 million) sold total
6.2 percent unsold by value
20 percent unsold by lot

Phillips de Pury & Company
111 lots offered
£21,909,200 ($43 million) sold total
18.3 percent unsold by value
19.8 percent unsold by lot

Gerhard Richter Francis Bacon Lucio Fontana Fang Lijun Richard Prince Rudolf Stingel Yue Minjun Stunt at Sotheby’s Lands Tape Artist in Jail

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Unless a larger financial calamity hits, it seems the auction houses will continue to take financial risks as the market finds its way to somewhat more sober levels.

"Postwar & Contemporary Art" originally appeared in the May 2008 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's May 2008 Table of Contents.