September Contemporary Auction Results.. no sign of trouble!!
We were just
totally crushed out bid on a lot at today's Sotheby Contemporary Art Auction...
Don't all those silly bidders know we're in the middle of a MAJOR Financial Crisis???
With tons of people getting fired, home prices tumbling nationwide, seasoned trader loosing their shirts, investment bankers choking on bad leveraged loans and almost every hedge fund whiz kid out there getting wiped out!! you'd think art auction prices would not be jumping up!! guess not !!
So the Christies First Open sale..seems to have gone OK..$12.2 Million with the High Estimate at $12.6 million. Well.. here's a story by Lindsay Pollock from Bloomberg News. Download Christies_first open_Sept07
But DAMN!! The Paddles were flying in the air today at Sotheys too... Calder, Warhol, Haring, Katz and Basquiat all..selling for huge money!!
But there were some true shockers at todays sale...check these out!! Will the money madness ever end???
Lot 316..ALLAN D'ARCANGELO B.1930
SMOKE DREAM #2 signed,
titled and dated NYC 1963 on the reverse, oil on canvas, 30 x 28 inches.
Hammer Price with Buyer's Premium: $289,000 USD
But the truly
outright stupid ridiculous sale of the year..
goes hands down to this one...
Lot 353a...GEORGE RODRIGUE, B. 1944
THE PATH OF THE CANDLES,
signed; signed, titled and dated 2000 on the reverse
acrylic and oil on canvas 48 x 36 inches.
Hammer Price with Buyer's Premium:
$115,000 USD !!!
All I can say..
It's just amazing to think someone with $115,000 bucks to burn can have such bad
taste advise .. and doesn't have at least one friend to talk them out of buying a blue dog!!