The future is contemporary
Published on: 27-Dec-2007
Two famous auction houses have decided that the future is contemporary and are both holding sales in February.The market for the art form is so buoyant that it would appear that the auctioneers, Sotheby's and Christies, are not unduly concerned that one sale might usurp the other.
On February 5th, Sotheby's will fire the first salvo when it opens for business.
The star of its show will be a Francis Bacon work entitled, Study Of A Nude With Figure In A Mirror, which is expected to fetch upwards of £25 million.
On February 4th, rival auction house Christie's kicks off its sale and amongst its offerings will be Lucien Freud's sketch of Bacon.
Francis Outred, from Sotheby's, said: "We've seen phenomenal growth in the contemporary market over the last four years - we felt the time had come for our sales to be presented on their own.
"Someone had to jump first.'
It would appear that the global credit crunch crisis has yet to have a significant impact on the art world in general and the contemporary market in particular seems to going from strength to strength.
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