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London Auction Results Indicate Art Market Remains Strong

Posted in Art Finance

A recent contemporary art auction at Sotheby’s in London brought in more than £74 million, which, according to the Huffington Post, is the auction house’s second-highest total for a February sale of contemporary art in London.

The sale of the auction included works by Andy Warhol, Mark Rothko and Francis Bacon.  According to the article, buyers from 14 countries participated in the auction, which also saw 14 works sell for over £1 million.

The highest amount for the evening’s sale was Francis Bacon’s oil on canvas triptych ‘Three Studies For A Self-Portrait’, which sold for £13,761,250, approximately dead center in the estimate of £10-15 million.