Claude Monet, Iris Mauves (1914-1917), via Christie’s

The London summer auctions are underway, after Christie’s opening sale this evening at its King Street location, a steady if somewhat relaxed sale that seemed a markedly subdued affair compared to the fireworks the auction house saw last month in New York.  Capping the 52-lot sale with a final tally of £71,461,000, the evening was still a strong entry in the auction house’s recent outings.  Despite lackluster bidding, the sale achieved a remarkably strong sell-through rate, with only 8 works going unsold.  The auction house seemed content to let a number of works go just below estimate, continuing a commitment to a sales-first strategy outgoing president Steven Murphy had outlined late last year. (more…)

The New York Times has published an interview with Christie’s auctioneer Jussi Pylkkanen, discussing the continued growth of the contemporary market, the atmosphere of the auction, and some of the tricks in working a room.  “Someone might have collected 40 or 50 good paintings, and when the one work that he wants more than anything else comes up for auction, the auctioneer has to be very sensitive to that,” he says. (more…)