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AUCTION REPORT

Slow and Solid

MF HUSSAIN, Untitled, 1972, Oil on canvas, 106.7 x 45.6cm. Courtesy Sotheby’s New York.

The latest economic slowdown following the European Union’s 2011 debt and banking crisis has made some art-market observers bearish about the current conditions for auction sales. This, coupled with headlines about more moderate growth in the Chinese and Indian economies, has given many—from consigners to buyers—reason to pause. However, as the latest auction results in New York and Hong Kong point out, the market remains solid for some works—but certainly not all—offered on the auction block.

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