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Christie's Impressionist sale ends

05-06-2011 10:06 BJT

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Christie's 160 million US dollar auction fell short of estimates at its Wednesday sale in New York. However, masterpieces by Monet, Picasso and Vlaminck each sold for more than 20 million dollars.

The Christie's figure came on the heels of a similar result on Tuesday at rival Sotheby's, which just beat the minimum expectations.

Christie's officials said they were satisfied with the sale, which saw nearly half the 47 works sold snapped up by European buyers. Ten lots, or 18 percent, went unsold.

During the auction, some of the bidders, notably at the highest echelons above $15 million, played hardball, negotiating bidding increments down from the typical $500,000 to as small as $100,000.

Conor Jordan, head of Impressionist Div., Christie's NY, said, "The overall characteristic of tonight's sale at Christie's was of a buoyant market. It was of a market where there is a great depth of demand across many price points, from half million dollars, through to 20 million dollars for great works of art. And also a demand across the categories. So from impressionist paintings, through to great modernist works, through to post war Picasso paintings."

Among highlights, De Vlaminck's "Paysage de banlieue" smashed the artist's record of $10.76 million, fetching 20 million U.S. dollars.

The Christie's figure came on the heels of a similar result on Tuesday at
rival Sotheby's, which just beat the minimum expectations.

Conor Jordan said, "It's a painting that dates from the summer of 1905 where he's really exploring the richly expressive qualities of color. It was recognized by the market as one of the very best examples of Vlaminck's 1905 output and the price reflects that."

Another top-priced lot was Monet's "Les Peupliers" which also fetched a 20-million-dollar hammer price.

Picasso's "Les femmes d'Alger, version L" fetched 21.4 million, but had been estimated as high as 30 million.

The auctions continue next week when Sotheby's and Christie's hold their contemporary and post-war sales.


Editor:Liu Fang |Source: CNTV.CN

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