Contemporary Keeps Climbing at Sotheby’s

London—The contemporary art market continued its steady climb at Sotheby’s on Wednesday night, with a sale dominated by a strong grouping of paintings by international blue chip artists that brought in £87,915,500 ($144,550,665).

Ten of the 57 lots offered went unsold, for a trim buy-in rate by lot of 17.5 percent and seven percent by value. Twenty of the forty-seven lots that sold fetched over a million pounds and twenty-three made over a million dollars. The results were comfortably in the middle of the pre-sale expectations of  £68,450,000-93,110,000 ($112,545,490-153,091,462), and the tally surpassed last February’s total of £74,364,200 ($116,357,664) for the 44 lots sold.

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