The News Review:
- At auctions, contemporary art shows its strength
- Hirst Painting Flops at `Brutal’ New York Art Auction (Update1)
- Kimball International Completes Final Sales of Land Holdings …
- African Tea Prices Plunge at Auction as Crunch Deters Buyers
At auctions, contemporary art shows its strength
International Herald Tribune, France
Never was the divergence between the economy at large and the auction scene more blatant. True, there had been more glorious moments in the recent past. In May the New York evening sales in the two houses added up to $710. 26 million, substantially more than the combined totals of Sotheby's and Christie's this week. But art is traditionally seen as an easily dispensable luxury and, within that broad category, contemporary art is widely held to be at greater risk than any other area.
Hirst Painting Flops at `Brutal’ New York Art Auction (Update1)
Bloomberg
's New York auction didn't sell, the biggest upset of lastnight's auction that missed presale low estimates by more thanhalf. It was the third sale this week to disappoint art dealersand may herald a decline that tracks the drop in stock markets. 6 million with fees, against its presale lowprojection of $23 million. Two in five lots didn't sell.
Related from Siera-leone: Boy soldier: Sierra Leone’s civil war turned him into a 13-year …
Kimball International Completes Final Sales of Land Holdings …
MarketWatch
The auction sales totaled $50. 605
million. The Company confirmed that it reached an agreement to sell the nearly
12,000 acres in Union and Crittenden counties in western Kentucky, known
as the “Sturgis”
property for $24. 583 million, after previously rejecting a high bid of
$23. 9 million submitted Saturday, November 8 during the live auction.
African Tea Prices Plunge at Auction as Crunch Deters Buyers
Bloomberg
14 (Bloomberg) — African tea prices plunged the mostsince March 2006 as the global financial crisis deterred buyersand rainfall in Kenya boosted supplies. The average tea price at a weekly auction in Mombasa, Kenyadropped 12 percent to $1. 2 pounds) at the Nov. 10 and 11 sales, from $2. 04 a week earlier, Mombasa-based.