Recession, What Recession: Art Auction Nets a Record $198 Million
2008 September 16
A two day art auction of British artist Damien Hirst grossed $198 million
Sotheby’s said the sale smashed the former record for an auction by a single artist, the $20 million record set in 1993 for 88 works by Pablo Picasso.
Over 600 prospective buyers packed the showroom for each of the three auction sessions. Others around the world bid by phone.
“Banks fall over, art triumphs,” former Royal Academy chief Norman Rosenthal told the Guardian newspaper.
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sothebysbank.com
“Banks fall over, art triumphs,” – that is the way