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Keeping Up with the Houses

Each year, the ceaseless competitive cycle of topping last season’s sales records keeps auction houses hunting for bigger and better treasures. In the first half of 2015, auction results have already sent market observers spinning.

In New York, at Christie’s evening sale on May 11, it was Pablo Picasso’s Les Femmes d’Alger (Version “O”) (1955) that made headlines with an astronomical going price of USD 179.3 million, making it the most expensive work ever sold at auction. Though neighboring Sotheby’s failed to reach such a lofty peak, it too scored…

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