Art sales: Russians help boost prices

Colin Gleadell on London Sales Christie's passed a historic milestone last week with a £144.4 million Impressionist and Modern art sale. Led by a record £40 million water-lily painting by Monet that was reproduced on the front page of this newspaper, it was the highest total ever achieved for a single auction in Europe. It also achieved more than Christie's Impressionist sale in New York in May. Dazzling: Danseuse, a rare futurist painting by the Italian artist Gino Severini For decades, New York, with its easy access to American billionaires, has outgunned London, typically by two to one. But the gap between the two has now thinned to a hair's breadth. Last summer's sales at Sotheby's and Christie's in London were only £60 million short of New York's spring sales. This year, London came even closer, cutting the difference to... [read full story]                    

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