IN BRIEF : Sotheby’s Posts Record High Sales
Sotheby’s Holdings Inc., the world’s largest art auctioneer, said today it had 1988 worldwide sales of $1.8 billion, a record high in annual sales for any auction house.
Sotheby’s said in a statement that this year’s sales represented a 27.5% increase over its 1987 auction sales of $1.4 billion.
The 244-year-old auction house, which has its main branches in London, New York, Hong Kong and Geneva, said its worldwide auction sales for September to December were $871 million, an increase of 42.9% over last year’s fall season.
Highlights this year included the collections of the late American artist Andy Warhol, which sold for $48.5 million, and British rock star Elton John’s collection of art and memorabilia, which fetched $8.7 million. Sales at one New York jewelry auction totaled more than $100 million.
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