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AUCTION PREVIEW

Hitting the Brakes

VS GAITONDE, Untitled, 1960, oil on canvas, 152 x 262.5 cm. Courtesy Sotheby's New York.


In 2015, the über-elite were out in style, flashing their cash and scoring back-to-back headline-grabbing sales. Pablo Picasso's painting Les Femmes d'Alger (Version O) (1955) fetched USD 179.4 million at Sotheby's in May 2015, the highest auction price for any artwork, until November, when Christie's sold Amedeo Modigliani's Nu Couché (1917–18) to Chinese billionaire Liu Yiqian for USD 170.4 million. Despite the impressive transaction, Christie's reported in January 2016 that its global sales numbers…

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