InfoAnda - Art masterpieces flop at auction

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

American Idol singer Iraheta wins record deal | Entertainment | | 11 June 2009
China state TV to revamp staid news broadcast | 10 June 2009
Putin vows to fight extremism after racist riots | 17 December 2010

Time-shifting on TV more than doubles in past year | | 18 August 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : Art masterpieces flop at auction

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Top Stories Full Coverage Most Popular Photos Search Search: Art masterpieces flop at auction AFP - Friday, November 7 NEW YORK, (AFP) - - A major auction of masterpieces found few buyers, confirming that the global financial crisis is wreaking havoc on the art market. The auction room at Christie's in New York was unusually subdued as 85 works of impressionist and modern art went on the block, no less than 44 percent of them failing to attract buyers. There is still money in the rarified circles of international art collectors, but not the kind that in previous years sparked intense bidding wars and dizzy profits for sellers. "We are in what is obviously a very difficult financial time for the world," said Christie's Christopher Burge, who headed the auction. One of the star items, Pablo Picasso's surrealist "Deux personanages (Marie-Therese et sa soeur lisant)," dating from 1934, fetched 18 million dollars -- the lower end of its pre-auction estimate, which had gone as high as 25 million dollars. Of those that did sell, 11 percent went for more than their estimate. One of these was Juan Gris' "Livre, pipe et verre" from 1915, selling at 20.8 million dollars. The target had been 12.5 to 18.5 million dollars. "Improvisation" by Expressionist master Wassily Kandinsky sold for 17 million dollars, where the estimates were for 15-20 million dollars. Other big-ticket items performed even more disappointingly for Christie's. The painting "Pont d'Argenteuil et la Seine," by Gustave Caillebotte, sold for 8.4 million dollars, the lower end of the estimate. A Giacometti sculpture of three stick-like figures sold for 11.5 million dollars, below the 14 million dollar lower estimate. On Monday, rival auction house Sotheby's also experienced a difficult night for its impressionist and modern works. There were several impressive sales, including 60 million dollars for an abstract painting by Russian artist Kazimir Malevich, but many other works, including paintings by Picasso and Degas, did not sell. Experts said there was still demand for top-of-the-range works, but that in general the market has taken a hit as wealthy collectors assess damage on the stock markets. The art market will be put to the test again next week, when contemporary sales -- which have in the past commanded vast prices -- take place. By comparison, last spring in New York a painting by Claude Monet, "Le Pont du chemin de fer a Argenteuil," sold for 41.4 million dollar and a Francis Bacon triptych went for an astounding 86.2 million dollars. Burge said at a press conference after the auction that he was surprised things were not much worse, given the state of major economies around the world. "It seems remarkable that you can even sell anything. All this is really complex," he said. One factor, he said, is that "many dealers take advantage of the situation to buy, but the Gris for example has been bought by a private collector. There's definitely enough money around." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed Among Obama's next challenges: his own security IMF sees recession in advanced economies in 2009 US doctors tell Liu Xiang he needs surgery Obama's grandmother, family 'rock', dies on election eve World stocks plunge on rising recession fears View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

Other News on Friday, 7 November 2008
U.N. and African leaders meet on Congo crisis | International |
Honda unveils leg assist machine for elderly
Death toll in NW Pakistan suicide attack rises to 22: officials
Election win boosts Britain's Brown | International |
DRCongo peace summit opens in Nairobi
Opposition rally tests Georgia's leader | International |
British Airways profits take a plunge
U.S. military shoot, then rescue Afghan soldier | International |
10 dead in suspected US missile strike in Pakistan
US doctors tell Liu Xiang he needs surgery
Russia to study U.S. anti-missile proposals: report | International |
Zuma says SADC summit must force Zimbabwe deal | International |
Art masterpieces flop at auction
Rice to discuss Mideast peace with Palestinian president
Pro-North Korea paper says Obama brings in new phase | International |
US GI dies of noncombat related causes in Iraq
UN official hopes for US role in climate change
Cell phone makers face toughest year since 2001 | Technology |
Myanmar and Bangladesh meet over sea dispute
Malaysian court frees blogger | Technology |
HK stock index rebounds to end 3.3 pct higher
Daiichi completes takeover of India's Ranbaxy Labs
Report: Hong Kong investors sue over Lehman buys
IMF says Cambodian economic growth to slow in 2009
China shares rise as investors hope for new policy
Taiwan dlr ends flat, hurt by foreign share sales
LUKOIL may halve '09 capex if oil under $45
Hollywood already in holiday mode | Entertainment |
Panasonic, Sanyo in talks on possible takeover
Taiwan's exports down 8.3 percent in October
60 Minutes crew attacked by angry Chinese | Entertainment |
S.Korea cuts rates third time in a month, more seen
Fox launches Friday sci-fi block | Entertainment |
Steve Carell could make Beaver speak | Entertainment |
Extremist leader in Iraq sends message to US
Insurgents to Obama: Pull troops from Iraq
New Congo fighting flares, summit urges ceasefire | International |
Muxlim.com to launch virtual world site for Muslims
Obama: First pooch may be mutt 'like me'
Analysis: Obama faces early test in Iraq
Paloma strengthens into dangerous storm near Caymans | International |
Microsoft CEO rules out another Yahoo bid: report
GM warns of cash crunch, appeals for bailout
Iraqi Shiite clerics warn against US security pact
Syria's Assad congratulates Obama, urges dialogue | International |
Craigslist moves to crack down on prostitution ads
EU leaders urge rapid results on financial reform
Iran says EU's Solana wants more nuclear talks | International |
Detained US student's dad asks Iran for compassion
Ford warns of tough times ahead amid heavy losses
Russia's Medvedev urges vigilance after bomb blast | International |
Police question Israeli prime minister on expenses
Obama rules out new cabinet picks as jobless rate jumps
Mexico rules out bomb in crash of minister's plane | International |
Palestinian state coming soon, says Rice
U.S. diplomats meet North Korean on disarmament | International |
Obama offered help in finding presidential pup
Mexico captures Gulf drug cartel member | International |
Migraine's silver lining -- drop in breast cancer risk: study
European politicians defy Israel, sail to Gaza | International |
US jobless rate rises to highest level since 1994
Hurricane Paloma powers up on path to Caymans, Cuba
Ford loses $129mln in third quarter, to cut 10% of jobs
Las Vegas offers surprise hotel bargains for CES | Technology |
Pulau Ubin could be model "green" island powered by clean energy
Hurricane Paloma now a Category Two storm
Steelmaker Corus to cut production by 30 percent
Rich nations should ditch 'unsustainable' lifestyles: China's Wen
Britons waste a week a year channel surfing: survey | Technology |
U.S. judge orders Apple executive to stop work | Technology |
Global finance reform needed says China's Wen to British PM
Obama meets top economic advisors
Pakistani stocks end flat, volume withers
Panasonic to buy Sanyo, more deals may follow | Technology |
Kandinsky art prize plays with politics | Entertainment |
Jesse McCartney out to shock fans with new TV role | Entertainment |
Shakespeare texts pledged to London's Globe theatre | Entertainment |
BBC to issue on-air apology for Manuelgate | Entertainment |
Documentary about Obama campaign in the works for HBO
Hollywood meets Bollywood in Oscar-hyped `Slumdog'
BBC to issue on-air apology for Manuelgate | Entertainment |
US says al-Qaida regional leader killed
Digg founder says economic meltdown prime time for Internet startups
Fifty killed, scores hurt as Haitian school collapses | International |
G20 summit will not yield Bretton Woods II, IMF chief tells paper
Opposition ahead as voting ends in NZ election | International |
Iraqi forces kill senior al Qaeda leader | International |
Britain revokes visas of Thai ex-PM and his wife | International |
Human Rights Watch urges regional pressure on Mugabe | International |
Obama vows to confront economic crisis head on
US military deaths in Afghanistan region at 555
US military deaths in Iraq war at 4,191
Gene Simmons rushes to cash in on rock videogames | Technology |
Pakistani cenbank sells 12.7 bln rupees of T-bills
Digital albums now offer liner notes, lyrics | Technology |
Momentum grows for global finance overhaul
Idol champ David Cook set to release debut album | Entertainment |
Gene Simmons rushes to cash in on rock videogames | Entertainment |
Billboard CD reviews: Taylor Swift, T-Pain | Entertainment |
Hollywood joins the furor over gay marriage ban
Billboard single reviews: Miley Cyrus, Ludacris | Entertainment |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01