Old Masters hold firm as Sotheby's comes out on top
Old Masters paintings have once again proved their long-standing value, with steady sales in New York last week. Total sales from the two main auction houses, Sotheby's and Christie's, came to a total of $104.4 million (£65.4 million), according to the Telegraph.
However, while the paintings themselves may have maintained a degree of consistency with previous years, there was a shift in auction house success.
Last year it was Christie's that reigned supreme in the auction world, accounting for a greater share of the market than its close rival.
However, in what is widely deemed to be the first big test of 2010, Sotheby's has claimed victory.
Christie's was surprised not to sell Corot's rediscovered Evening Star and did not achieve expected prices on a number of items.
As such, overall sales came to $39.5 million. They had been expected to total a minimum of $48 million.
By Contrast Sotheby's sold $61.6 million worth of paintings, with three quarters of all lots finding buyers.
