Patti Wong News
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Paintings by Pablo Picasso, Claude Monet and Joan Miro starred in a $190 million auction that showed a prevalence of wealthy buyers for Impressionist and modern art, provided works are fresh to the market.
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Sotheby’s Hong Kong auction sales doubled in the first half to HK$4.3 billion ($540 million) from the same period a year ago as demand rises, Patti Wong , chairwoman of Sotheby’s Asia, said today.
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Lucian Freud and Alberto Burri paintings sold for $5 million each in London last night at a Sotheby’s auction overshadowed by concern about market weakness and a protest by U.S. art handlers over a labor dispute.
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Pablo Picasso said art should never be exposed to those who aren’t sufficiently prepared for it. Three sales in Hong Kong this week will show whether Asia is sufficiently prepared for Picasso.
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A racy Jeff Koons sculpture and an assemblage of Jackie Kennedy portraits by Andy Warhol drew tepid bidding last night as Sotheby’s New York saw its lowest tally for an evening contemporary-art auction in two years.
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A pile of porcelain sunflower seeds, an Andy Warhol painting of Marilyn Monroe and a Gerhard Richter abstract sold last night at a London auction that was interrupted by a protest at U.K. government cuts.
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London’s February series of evening contemporary-art auctions raised 56.2 percent more than last year, boosted by works by Francis Bacon and Andy Warhol , and phone bidding from a widening range of international clients.
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Asian buyers won four of the top ten lots last night in New York, as Sotheby’s Impressionist and modern art tally tripled to $195.7 million from a year ago.
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