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Going once: A packed Christies sale room looks on as telephone bidders vie for the most important (and the largest) of Monet's Waterlilies, sold at Christie's, London for an astonishing £40.1 million on June 24, 2008, setting a record price for the artist and a record for any Impressionist painting. Damien Hirst: Rich Artist Gets Richer http://www.time.com/time/video/player/0,32068,1774353335_1839008,00.html
Day 10 Today is WednesdayDAY 10 Today is Tuesday, June 14th and we are taking a close look at examining the role of the auctions in the art market. Read about auction room psychology from the perspective of the auctioneer as well as collectors and dealers.. In 2012 Christie's will be 250 years old.
How have the bidding room, the buyers, the sellers and the works offered for sale changed in the last 250 years? Just a quick examination of
the two opening images on this page should provide some clues. Read Sarah Thornton's chapter on "the Auction." Choose a recent sale of fine
art at a noted American or European auction house (or their subsidiaries in Asia or the Middle East) – and discuss its significance with regards
to some of the points that Thornton raises.
Readings
Read the following excerpt on "the Auction" from "Seven Days in the Art World" by Sarah Thornton (New York: W.W. Norton, 2008).
Watch Christie's' Christopher Burge in action selling an Andy Warhol large Campbell's Soup Can, silkscreen, 1962 for $23.8M (including buyer's premium):
http://www.youtube.com/watch?v=boaFiyICN0w&feature=related
http://www.youtube.com/watch?v=boaFiyICN0w&feature=related
Further
Further Reading "Show me the Monet... Impressionist's water lilies go for record £40m"
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