1/2 Price Contemporary Art sale at Sothebys

In a salesroom overflowing with collectors like the actor Steve Martin, the financier Eli Broad and the fashion designer Valentino, Sotheby’s barely managed to sell $125.1 million worth of contemporary art on Tuesday night, well below the low estimate of $202.4 million.

“It was a half-price sale,” said Mr. Broad, who went on his first shopping spree in several years. In less than 90 minutes, he dropped more than $8 million (including Sotheby’s fees) on works by Ed Ruscha, Jeff Koons, Robert Rauschenberg and Donald Judd. rest of story here via New York Times

About Mark Westall

Mark Westall is the Founder and Editor of FAD magazine Founder and co-publisher Art of Conversation and founder of the platform @worldoffad

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