Christie's confident of a continuing art market recovery

  • January 28, 2010 18:04

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Christie's International

Christie's, which is bringing some powerful inventory under the gavel at its contemporary art sale next month, expects the market to recover this year. With the improvement in conditions, price guarantees may return. In 2009, Christie's states, sales fell to 2.1 billion pounds, a decline of 24%. For the contemporary category, sales dropped 59% to 244.3 million pounds. Old Masters inched up 1% while 20th Century Decorative Arts, which posted a 149% increase, was helped along by the 21.9 million euros paid for an Eileen Gray chair at the record-setting Yves Saint Laurent sale.

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