Art lovers expectantly awaiting the auction of works by Andy Warhol and Mark Rothko this week have already had an eye-opening surprise from Sotheby’s, the auction house selling the pieces.
The auction house’s quarterly figures beat Wall Street forecasts in what is traditionally a quiet quarter for sales. Sales fell 12.7 per cent from a year ago to $94.2m (£60m) in the three months to the end of September, beating predictions of a 15.3 per cent decline.
“Sotheby’s has achieved substantial and broad-based successes across our global salesrooms through the third quarter, with double-digit growth in auction sales in virtually all our categories,” said Sotheby’s president and chief Bill Ruprecht. Sotheby’s chief executiveThe art market remains robust and we are confident as we look towards the end of this year," added Mr. Ruprecht.