New Style Auction Rakes In Millions

Last week, Christies introduced their live streaming auction of Twentieth Century, Post-War, and Impressionist & Modern Art works. Over the three day event, more than $387 million was raised.

“Demonstrating continued demand for both masterpiece and core-level works of art, some 280,000 people tuned into the highly anticipated Evening Sale through Christie’s website and social media channels, including YouTube, Facebook and WeChat. The sale also registered bidders from across the world via Christie’s LIVE online bidding platform, with a broadening demographic of bidders under the age of 40. “

The prize exhibit was Cy Twombley’s Untitled (Bolsena) which sold for $38,685,000.

A Mark Rothko also sold well:

Also of interest, Stan the T-Rex sold for five times the low estimate, making it at $31,847,500 the most expensive fossil ever sold.

The success of this outing will no doubt encourage more on-line fine art auctions in the future.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: