Art market datapoint of the day

By Felix Salmon
June 3, 2009
Phillips de Pury had a small contemporary editions sale yesterday, which included this quite lovely little unsigned and unframed fabric piece by Louise Bourgeois . An edition of 125, it was estimated at between $1,200 and $1,800; it ended up selling for $16,250. " data-share-img="" data-share="twitter,facebook,linkedin,reddit,google" data-share-count="true">

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Phillips de Pury had a small contemporary editions sale yesterday, which included this quite lovely little unsigned and unframed fabric piece by Louise Bourgeois. An edition of 125, it was estimated at between $1,200 and $1,800; it ended up selling for $16,250.

A few lessons can be drawn from this:

  1. Auction-house estimates often don’t mean very much.
  2. Bidders can get carried away in the heat of an auction.
  3. Love makes you do crazy things: I’m sure it was the motivation for both the winning bidder and the underbidder.

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