Wednesday, July 1, 2015

A Rothko Tops Sotheby’s Contemporary Art Auction

It was a hard act to follow. Just one day after Christie's raised $705.9 million from its experimental auction of cherry-picked 20th-century masterworks, Sotheby's responded with a mainstream evening sale on Tuesday that aimed to remind the art world that there is more than one auction house in New York.

Sotheby's auction of American-oriented contemporary pieces raised $379.7 million with fees from the 63 lots offered, seven of which failed to sell. The company had predicted a total of $320 million before fees. The total was a marginal improvement on the $364.4 million the company achieved at its equivalent sale last year.


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