This art sale by Christie's made a total of $102,767,000/£68,511,333 /€77,268,421 for paintings and sculptures with top lots from artists Pablo Picasso, Alberto Giacometti, and Tamara de Lempicka. Recently, more contemporary works have been the ones most wanted by people with enough money to buy them. One of Pablo Picasso's works was the highest selling, which is awesome because he was a weirdo. His painting sold for $14,642,500 million. Which would probably be better spent on wheat crackers. But hey. There were many high-selling paintings. Some were seductive, some were rare, some were boring. This auction ended today, Thursday the 7th, the day this current event was due. How fancy. Join discussion...

This article, titled "Sotheby’s Impressionist Sale Hits 7-Year Low as Picasso Flops", conveys just how hard the art market has been hit by the poor economy. The Sotheby auction's total draw was expected to be at the very least 81.5 million dollars, but ended up being closer to a devestating 61.4 million. It was the lowest number since Sotheby's 2001 election which occured shortly after 9/11. The Picasso painting which was left unclaimed by the end of the night was the former possesion of a New York real-estate developer who was an investigator in the Bernie Madoff ponsy scheme. Join discussion...

The auctions of 2009 have prices that have dropped at auctions. The economic crisis has families reluctant to sell their valuable works at this year's falling prices. The auction houses find it difficult to get material, though pieces are definitely selling. "Man in Blue VI" by Bacon from 1954 is selling for an estimated 4 to 6 million pounds. Join discussion...

Sales were disappointing at an auction in Hong Kong held by Christie's in November. Although a whopping $18,139,980 (US) was made in sales, only half of the pieces for auction sold. This is a significant decrease from previous auctions held in China, especially considering the clamor for contemporary Chinese art in the months leading up to the auction. Some of the pieces did sell well, however; a portrait of Lincoln by Korean Kang Hyung Koo exceeded its high estimate, and Zhang Xiaogang’s "Bloodline: Big Family, No. 2" sold for $26,420,000 (Hong Kong) as the most expensive item to be sold. This is apparently disappointing, however, and the loss of interest is attributed to the global economic situation. Join discussion...

Major auction houses in London have estimated sales at less than a quarter of the sales of last February. In response to this, auction houses are being more careful about which pieces they take on for sale, only choosing quality works that are correctly priced. They are also taking on less works, so as not to be left with a surplus. Join discussion...

On December 8, 2008, a handcarved jade imperial seal sold for 612,750 euros or $801,783. This piece was created by Tai Shang Huang Di and dates back to 1795, during the Qing dynasty in China. The seal is 2.3cm wide, 2.3cm deep, and 4.3cm tall. It was sold during a Sotheby's Asian Auction in the Galerie Charpentier in Paris, France. Join discussion...

On September 24th to the 25th, there as a big art auction taking place in Australia. It was conducted by Menzies Art Brands. This company is one of the leaders in Australian art auction sales. The auction sold many items including Hillside II which sold for $1,000,000 - $1,300,000, Head After Picasso for $1,500,000 - $2,000,000, and Bouquet de cheminée for $1,100,000 - $1,400,000. Join discussion...

A Faberge Egg is a collection of deocrative egg-shaped clock statues, symbolizing the Russian Revolution. The infamous Rothschild family has owned this certain egg for years, but it was recently sold for 18 million US dollars. The buyer was a Russian tycoon, admiring this slice of history. ORginially, the egg took over a year to make, with over one hunreded artisans working on it. Join discussion...

On February 11, 2009, at Christie's Post-War and COntemporary Art Evening Sale, 31 works of art that have been created in the past 60 years or so will be auctioned off. This is important because many of these famous works of art have been in the hands of private collectors for many years, so this is the first time they have been up for auction in a very long time. Works by such authors as Francis Bacon, Jeff Koons, Alberto Burri, and many others will be auctioned off at this highly anticipated event. The most popular piece in the auction is entitled. "Man in Blue VI". It was created by Francis Bacon in 1954. Bacon in internationally known for his paintings of popes. It is expected that this piece of art will auction off for approximately £4,000,000 to £6,000,000. Another popular work of art that is going to be auctioned off is called the "Combustione plastica". It was created by Alberto Burri in 1956. It is made out of plastic, and was helped designed and created with the assistance of fire. It will be auctioned for approximately £800,000 to £1,200,000. Finally, another popular piece that will be auctioned is called "Monkeys (Ladder)" and was created by Jeff Koons in 2003. It was created using oil on canvas and is around 9 feet tall. For the first time, this artwork will be auctioned off. It is expected to be auctioned for approximately £1.4 million to £2 million. Clearly, many popular selections of art will be auctioned off at this event. Many pieces are so special because they are rarely auctioned, and therefore are also very valuable. Others, collectors are trying to procure, because as like this last painting, some have never been seen before. Clearly this will be a big event for many art investors around the world. Join discussion...

The decrease in the price of artwork is making people cautious about selling their art because they want to take more time to see where prices are going in the future. It is difficult for auction houses to obtain artwork for this reason. Sotheby's auction last year made 72 million pounds. This year, the auction is being held on the fifth of February. The presale low estimate of 16.55 million pounds is less than a quarter of what was made last year at this auction. Selling percentages and prices have been decreasing since the last quarter of 2008 due to the current economic crisis. It looks like things are looking downhill for art dealers at the moment. Join discussion...