The Art Market's Blowout Week - So What Does It Say About The Market?

"Christie’s sold a whopping $1.42 billion worth of art last week, besting rival Sotheby’s by nearly $700 million. The publicly traded auction house made a total of $724 million across its four sales, while Phillips—which held only two—trailed in third place with $134.6 million. All told, the houses made a combined total of $2.3 billion during the so-called auction “giga-week,” one of the highest aggregate results ever. The market has not seen such lofty totals since the spring 2015 season when the sales made a record $2.7 billion."

Article source here:Arts Journal