A recent sale of Impressionist and modern art at Sotheby's auction house exceeded sales estimates and raised the hopes of industry insiders that a rebound is under way.
From: www.cnn.com
New York (CNN) -- A recent sale of Impressionist and modern art at Sotheby's auction house exceeded sales estimates and raised the hopes of industry insiders that a rebound is under way.
Sotheby's reported total sales of $181.8 million on Wednesday night and featured five works that sold for more than $10 million. The auction house initially thought it would take in $115.3 million.
"Wonderful" said Emmanuel Di Donna, who is Sotheby's vice chairman for Impressionist and modern art worldwide, director of evening sales.
More than 800 attendees went to the highly anticipated auction and 70 bidders were on the phone from all over the world. The two-hour session got off to a breathtaking start when it began.
The vibe of the room was "electric" said Di Donna. "There was pent-up demand from the start of the first lot, which featured Salvador Dali's "Giraffe on Fire."