Friday, November 09, 2007

Going once, going twice, going 27 million times

"Mr. Giraud was glued to his cellphone, steadily raising his hand as Christopher Burge, the evening’s auctioneer, took bids in $500,000 increments. It seemed as though neither bidder would give in.

When the price hit $27 million ($7 million over the high estimate) with no end in sight, Mr. Burge jokingly said, “At some point I’m going to have to sell it.”

Mr. Bennett won out at $30 million ($33.6 million, including Christie’s buyer’s premium), a record price at auction for Matisse. The salesroom burst into applause." From reports on the recent Christie's auction in the New York Times