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- 10% Increase Year-Over-Year -
INCLUDING SOTHEBY'S HIGHEST TOTAL FOR AN EVENING SALE OF CONTEMPORARY ART HELD IN OCTOBER
SOTHEBY'S WORLDWIDE SALES OF CONTEMPORARY ART ARE UP MORE THAN 30% YEAR TO DATE
LONDON, Oct. 6, 2017 /PRNewswire/ -- Sotheby's (NYSE: BID) autumn sales of Contemporary Art in London concluded today with a combined total of $114.1 million, a 10% increase over the same series held one year ago. This week's results bring the total value of Contemporary Art sold at Sotheby's London so far this year to $405.1 million. Worldwide sales of Contemporary Art at Sotheby's are up more than 30% year-to-date.
"We are very pleased with the results achieved in London this week, which followed successful sales of Western and Asian Contemporary Art in Hong Kong last week, as well as offerings from the collections of Mario Testino and Edward Albee in London and New York last month," said Tad Smith, Sotheby's CEO. "The global demand for Contemporary art at all price points bodes well for the major upcoming sales in November."
The Evening Sale of Contemporary Art was led by one of the greatest David Hockney landscapes in private hands, 15 Canvas Study of the Grand Canyon (1998), which sold for $7.9 million – the second highest price for the artist at auction, following the record set in Sotheby's New York salesroom earlier this year.
The most valuable artwork sold this week was Cy Twombly's Untitled, which achieved $8.5 million, and a new auction record was set for Josef Albers, whose Homage to the Square: Temperate sold for $3 million.
Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as the collection advisory services of its subsidiary, Art Agency, Partners. Sotheby's presents private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Global Fine Art Division, and two retail businesses, Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).
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