An Auction of a Lifetime

Well, Christie's has done it! They've pulled it off, maybe saved their company, maybe saved the whole art world. We'll have to see. 

What they did do is they managed to sell $477 million dollars - that is 96 percent of everything offered - worth of art, furniture, goodies, etc. Major winners include the two Qing dynasty bronze heads for $40 million, a dragon chair for $28 million

“This was a once-in-a-century sale,” Hugh Edmeades, deputy chairman of Christies South Kensington, said in an interview. He has been involved in single-owner collections at the London-based auction house since the 1980s and said, “I can’t remember anything like it. I’ve never seen people queuing for hours to view an auction before. Patriotism was definitely a factor.”

It is certainly something that I will remember for a long while. And hopefully it will be one part of the puzzle that pulls the art market out of its downward slump. But we've got to remember that this is a single person sale - and I don't see YSL dying again any time soon. It was Christie's one big chance and opportunity but it was also a one off deal. Hopefully they can continue taking risks, working hard, and making the art market work to their favor. We've just got to keep our heads up and everything will be ok.