The News Review:
- Citigroup to auction Japan custody operation: Journal
- Sales drop by half in Christie’s Asian art sale in HK
- Land auction in Scottsdale may be delayed
- Gallery owners find the landscape mixed
- SunTrust Sets Purchase Dates for Previously Disclosed Auction Rate …
Citigroup to auction Japan custody operation: Journal
MarketWatch
federal rescue plan plans to auction off its custodian administration unit in Japan people familar with the matter told The Wall Street Journal. NikkoCiti Trust & Banking Corp. provides services including delivering securities and settling trades and calculating prices of investment-trust units the Journal reported.
Sales drop by half in Christie’s Asian art sale in HK
Reuters
4 million) — though well below its pre-sale estimate of around HK$40 million. Zeng Fanzhi’s “From the Masses To the Masses” of China’s leader Mao Zedong surrounded by fellow revolutionaries failed to sell at HK$28 million while Chen Cheng-Po’s “The Central Fountain in Chiayi” went unsold after bids dried up a million dollars short of the low estimate of HK$15 million. Rival auction house Sotheby’s also had a weak showing in its Asian sales in Hong Kong in October with total sales of $141. 6 million around half the pre-sale estimate with many choice works failing to sell. In Western contemporary art the downturn has also weighed on the market with Christie’s New York fall sales of post-war and contemporary auction taking in $113. 6 million around half its pre-sale estimate of $227 million. The results are a far cry from Christie’s glittering sale of Asian contemporary artwork in Hong Kong in May which broke numerous records for Chinese Japanese and Korean artists with Zeng Fanzhi’s “Mask Series 1996 No.
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Land auction in Scottsdale may be delayed
Arizona Republic AZ
29 2008 12:00 AM The Arizona Republic A planned auction next month of nearly 11 acres of state trust land in Scottsdale is unlikely to occur because of waning interest in commercial property said Jamie Hogue Arizona State Land Department deputy commissioner. The property set for a Dec. 16 auction wraps around the Windgate Crossing shopping center northwest of Bell Road and Thompson Peak Parkway. “We haven’t postponed it but we’re not anticipating that it will happen” Hogue said.
Gallery owners find the landscape mixed
Philadelphia Inquirer PA
the oldest Philadelphia auction house noted that "it’s not the happiest time. "A recent Freeman auction of modern and contemporary art "was reasonably tough" he said. "Some things that in previous years would have sold struggled a bit. People are a little cautious. They seem to be taking a wait-and-see attitude. "No doubt that caution here is bolstered by the overall economic uncertainty.
SunTrust Sets Purchase Dates for Previously Disclosed Auction Rate …
MarketWatch
This agreement is subject to negotiation andfinal settlement with such negotiations continuing. The offers which will be voluntarily initiated through SunTrustsubsidiaries SunTrust Robinson Humphrey Inc. and SunTrust InvestmentServices Inc. will commence on December 1 2008 for certain customers andwill expire on or before March 2 2009.