By Scott Reyburn | The New York Times
It was a week the art world had never seen before. For the first time, an auction house sold more than $1 billion of art — over three days at that — a vast outpouring of money that amazed even the wealthy and the celebrities who flocked to the auction floor.
On Wednesday, Christie’s said it sold $658.5 million worth of work at its postwar and contemporary art auction, added to the $705.9 million for 20th-century works auctioned off on Monday. The billion-dollar threshold was a symbolic coup for Christie’s and seemed to widen the divide with its rival Sotheby’s, even if actual profits were unclear. See full article>>