Record prices mark art sale boom

A sale of Impressionist and Modern Art fetched more than than $180m (£108m) at an auction house in New York, marking an unexpected boom in the market.

Top of the lots was a bronze sculpture by Italian artist Alberto Giacometti which fetched more than $19m (£11.4), soaring above a $12m (£7.2m) estimate.

Artwork by Picasso and Kandinsky also fetched more than $10m (£6m) apiece.

“This was a real shot in the arm for the art market. It was a real vote of confidence,” said Sotheby’s Simon Shaw.

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Tags: 2m, 6m, Alberto Giacometti, Art Market, Artwork, Auction House, Boom, Bronze Sculpture, Impressionist Art, Italian Artist, Kandinsky, Modern Art, picasso, Shot In The Arm, Simon Shaw, Sotheby S, Vote Of Confidence

This entry was posted on Thursday, November 5th, 2009 at 17:30 and is filed under Art Room . You can follow any responses to this entry through the RSS 2.0 feed.

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