Sotheby's passes test with Turkish art sale
ArtTactic's Auction Analysis Reports summarise, analyse and compare recent auctions from the key auction houses for each specific geographical region. By collecting and graphing data including volume of sales, average price and bought in rates, the reports are able to judge the success of auctions by comparing the final results to pre-sales expectations.
This is the first ArtTactic Auction Analysis Report to focus on the Turkish art market and is focusing on Sotheby's first Turkish Contemporary Art Auction. Sotheby’s Turkish Contemporary Art Sale brought in £1,056,000, against a presale estimate of £1,131,000 - £1,576,000. Collectors responded positively to Sotheby’s strategy to introduce a new auction category in a very difficult economic environment.