Art Auction
Listen Now: Art Auction
The spring auction is underway in New York, and it started in a big way. I’m Brian Banmiller on Business.
After a two-year pause, the Christie’s sales room at Rockefeller center was filled with dealers and art advisors ready to enter some bids. And on the first night, they delivered. According to the New York Times, in under four minutes of bidding, Andy Warhol’s 1964 silk-screen of Marilyn Monroe’s face sold for about $195 million dollars, the highest price for any American work of art at auction. People in the room say the whole evening was electric. The room was full and there were also people bidding on the phone. In total the pieces auctioned off on night one brought in $318 million dollars. With a majority of the money going to charity. The founder of the fine art group, a New York advisory company, says that over the next two weeks auctions could raise as much as two billion dollars. He says everyone has been waiting for the right moment which has finally come. And it’s bringing a lot of money. Brian Banmiller, CBS News.
About Brian
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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