The fine art auction market was sober recently as witnessed by the dismal Sotheby's auction. Read the entire story here.
I'm very pleased that the Calder sculpture made a good showing though. It just goes to show, good design is never trendy and always in demand. I especially loved this paragraph:
"One of the few moments when the salesroom came alive was for an early sculpture by Calder. The artist is one figure who manages to shine during bad times. A standing mobile fashioned from wood, steel and string — “Ebony Sticks in Semi-Circle” from 1934 — was thought to bring $1 million to $1.5 million. Five bidders, including Eli Broad, the Los Angeles financier, went for the sculpture, which sold for $3.5 million to a telephone bidder."
Not a shark in formaldehyde in sight!