A London auction ended with the sale of 20.3 million pounds ($32.7 million) of art last night as the market for traditional paintings continuous to shrink.
Christie’s International’s first evening auction of its new category of Old Masters & 19th Century Art open a week of tests of demand. Today, its rival Sotheby’s starts selling 200 artworks belongs to Barbara Piasecka Johnson, that may make at least 5.7 million pounds.
The two most extremely valued paintings in the auction were both expected to fetch between 2 million pounds and 3 million pounds. Both sold for below-estimate hammer prices of 1.9 million pounds, equate to 2.2 million pounds with fees.
As ever, 17th century Dutch paintings that were new to the market and in unrestored condition were in demand.
Estimated at 300,000 pounds to 500,000 pounds, the painting had lain undamaged in a European private collection for more than 60 years.
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