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Sotheby’s brings home Bacon

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The boom in the contemporary art market has helped Sotheby’s, the world’s second-largest auction house, increase art sales by nearly a half to $5.3bn (£2.7bn) this year. The US-listed company rode the wave of interest in contemporary artists such as Francis Bacon and Jeff Koons to increase sales by 46pc, despite the impact of the … Read more

Rare ‘Inverted Jenny’ stamp sells for $825,000

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DALLAS — One of the most famously flawed stamps in U.S. history sold for $825,000 to a New York man who bought it slightly cheaper than the record price another “Inverted Jenny” copy fetched at auction last month. The rare 24-cent stamp, depicting an upside-down Curtis JN-4 biplane known as “Jenny,” was sold privately this … Read more

Sotheby’s Sales Rise 46% to $5.33 Billion on Contemporary Art

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Dec. 27 (Bloomberg) — Sotheby’s, the world’s second-largest auction house, sold about 46 percent more art this year as U.S., Russian and Asian collectors bid up prices for contemporary artists such as Francis Bacon and Jeff Koons. Sotheby’s art auctions in 2007 totaled $5.33 billion, up from $3.66 billion a year earlier, according to preliminary … Read more