Christie’s International Plc will hold its inaugural auction in India with the offering of $8 million of modern and contemporary South Asian art in Mumbai.
Christie’s chief executive officer Steven Murphy is the most powerful person in the art world, according to Art & Auction’s 2012 top-10 list.
Growing demand for contemporary art helped sales climb 10 percent at Christie’s International in 2012, even as its market contracted in Asia and the Middle East.
Christie’s International, which this week holds its first mainland China auction, said Shanghai’s free-trade zone will allow it to import more works of art for sale into the country.
Christie’s first mainland China auction raised $25 million, with sales led by a Picasso, Patek Philippe watches and bottles of Chateau Lafite.
Christie’s International will hold its first auction in mainland China tomorrow, featuring Patek Philippe watches, a Picasso and bottles of Chateau Latour in the newly created Shanghai Free Trade Zone.
January Jones, who plays the well- situated but unhappy Betty in “Mad Men,” said she’s a saver, not a spender on the red carpet last night.
Christie’s International said there was a surge in demand for contemporary art as an investment, after its sales climbed 9 percent in 2011.
Christie’s International said that the art market had regained strength and stability after its sales climbed 53 percent in 2010.
In the dog days of August, when most auction activity ceases, Christie’s will hold its first exclusively online sale.
"We are working with the free-trade zone in any way they see fit and we are hopeful that when the free trade zone becomes more open we are there to benefit from that."
- Steven Murphy on Sep 24, 2013
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