Post by artladval on Dec 9, 2009 10:21:49 GMT -8
www.ft.com/cms/s/0/159240d2-e426-11de-bed0-00144feab49a.html?nclick_check=1
"The art market defied the economic gloom on Tuesday evening when a drawing by Raphael was sold at auction at Christie’s in London for £29.2m – more than three times the previous record for an Old Master drawing at auction.
The sale of the drawing, “Head of a Muse” – which was estimated to sell for £12m-£16m – came at the end of a dramatic evening that also saw a Rembrandt portrait sell for £20.2m. The previous record of £8m was held jointly by Michaelangelo and Leonardo drawings.
The auction made a total of £68.4m, the highest total ever recorded for an Old Master auction.
The sale of the drawing, “Head of a Muse” – which was estimated to sell for £12m-£16m – came at the end of a dramatic evening that also saw a Rembrandt portrait sell for £20.2m. The previous record of £8m was held jointly by Michaelangelo and Leonardo drawings.
The auction made a total of £68.4m, the highest total ever recorded for an Old Master auction.