Big name artists continue to sell well at recent auctions.
Three works by Andy Warhol sold for a total of 6.4 million pounds ($10.5 million) in London last night as Sotheby’s relied on established names to bolster the contracted auction market for contemporary art. Sotheby’s 40-lot sale totaled 25.5 million pounds with fees, just below the high estimate of 27.4 million based on hammer prices, with 92.5 percent of the works finding buyers. The result is 73 percent drop from the equivalent sale last year. – From Bloomberg