Last Updated on 8/17/2005 by bidz

Christie’s helps moguls reclaim artistic heritage
By Deborah Brewster in New York
Published: August 16 2005 19:23

“Christie’s, the art auction house, had record sales in the first half of this year as the art market was buoyed by a convergence of old and new – US hedge fund and property moguls buying contemporary art, and Russian and Chinese buyers reclaiming their artistic heritage.

Sales at Christie’s, which is owned by Francois Pinault, were $1.65bn in the six months to June – a third higher than last year. It sold 178 works of art for more than $1m, compared with 132 during the same period last year.”

Read the Full Story >>