Disappointing Results at Sotheby's Auction

Impressionist art fails to deflect credit crunch affect

Last night, Sotheby's missed their target estimate by almost $100 million. 25 percent of the art up for auction didn't even sell. Anyone surprised? Not anyone who paid attention to highly esteemed collector Eli Broad who stated his views publicly sometime ago the a correction was on the horizon. I've also stated here on Art Comments that I've seen a "correction" taking place in the economy, and in the art market for almost a year now and that it was only a matter of time before it affected the auction world. Many disagreed and several still don't get it.

Cristin Tierny, a New York art adviser is quoted on bloomberg.com as saying, "It's too early to say there is a correction." Too early to tell? That same article states "A Van Gogh estimated to sell for as much as $35 million failed to draw a single bidder." - bloomberg.com


Anonymous said…
Youth Club Association- Volturara
Giovanni Palatucci
Monthly Information

The Volturarese Newspaper, after the discovery of the unpublished
Picture, Which is
Volturara Irpina ( AV ) article, after being transmitted by the BBC
program and the
Italian mass media about the new appearance of the Monster of Loch Ness
( Scotland)
Necessary needs to inform the whole world that the Holland Painter and
M.C.Escher had already painted and announced the new reappearance,
recalled by the
Black Man without a Face.
And with what has been written above, with peaceful intentions:
1) either Escher had seen personally the monster of Loch Ness while he
was wandering
2) or Escher believed that the monster of Loch Ness really existed and
thats why he
did the drawing.
This work of art is dated 01.18.1949.
The Handwriting consultation is made of 51 pages and has been sworn and
registered at
The Court of R O M E in the date of august 4 .2006. This is a big
discovery for the
World of art. The Republic power of Attorney,of Avellino is
even occupying about
This case, interested has for the Policeman who is the owner of this
Picture. Holland denies
The existence of this unpublished Picture without seeing it or
examining it .
Honour and glory to Escher, the Loch Ness Monster,to everybody Irpine
and the national
And international Mass media that will publish this HISTORICAL EVENT.
The Association President
Michelangelo MARRA
Internet :