BY ROY ALBERT ANDRADE, K1LLER, Inc.
LONDON, UNITED KINGDOM - Sotheby's (NYSE: BID) held eight auctions of Contemporary, Modern and Impressionist Art between February 28 and March 8, 2018, that racked in over $430 million, with an average sell-through rate of 80%. An extraordinary portrait by Pablo Picasso sold for nearly $70 million, the highest total for an online-only sale at Sotheby's to date. "It has been a great two weeks for Sotheby's with strong prices achieved at every level of the market," commented Tad Smith, Sotheby's CEO, adding, "these results bode very well for the season ahead, including our important Hong Kong and New York auctions."
Shawn W. Anderson