The U.S. art market passed its first major test amid the subprime mortgage meltdown, as Christie's International sold $395 million of Impressionist and modern works tonight in New York. [from bloomberg]
The first big sale at Christie’s Impressionist and modern art auction, Matisse’s “L’Odalisque, harmonie bleue,” which sold after an extended bidding war between a telephone bidder and a male bidder in the room. It was estimated to sell for $15-$20 million.
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