London Auctions To Be A Shadow Of Their 2008 Selves

“Works by Lucio Fontana, Francis Bacon and Jeff Koons will fail to lift the total estimate of London’s contemporary-art sales next month above a quarter of 2008’s level. The evening auctions by Sotheby’s, Christie’s International and Phillips de Pury carry a total low estimate of 38.4 million pounds ($55.9 million), according to Bloomberg calculations. This is 23 percent of the 164.3 million pounds in equivalent sales estimates in 2008.”