Sales at Christie’s defy security breach

  • Christie’s realized US$114.6 million in consecutive contemporary art auctions
  • Sales at Phillips and Christie’s showed both strength and weakness in the art market
  • Solid results for Jean-Michel Basquiat’s works
  • Records broken for artists Ana Mendieta and Felix Gonzalez-Torres
  • Christie’s website temporarily taken down due to security breach
  • Auction records broken for Mendieta and Gonzalez-Torres
  • Withdrawal of headline work by Brice Marden
  • Successful sale of Rosa de la Cruz collection
  • Challenging week for Christie’s
  • Details of security breach not yet disclosed

Christie’s recent contemporary art auctions have proven successful, despite a major security breach that led to the temporary shutdown of the auction house’s website. The sales at both Christie’s and Phillips showcased both strengths and weaknesses within the art market. Jean-Michel Basquiat’s works performed well, while a headline work by Brice Marden was withdrawn due to lack of interest. The collection of Rosa de la Cruz, a late Miami arts patron, generated energetic bidding and set records for artists Ana Mendieta and Felix Gonzalez-Torres. Christie’s CEO, Guillaume Cerutti, acknowledged the challenges faced during this week but expressed satisfaction with the solutions implemented. The details of the security breach have not yet been disclosed. Overall, the sales demonstrated resilience in the face of adversity.

Factuality Level: 3
Factuality Justification: The article provides detailed information about recent art auctions at Christie’s and Phillips, including sales figures, specific artworks sold, and bidding details. However, the article lacks context and relevance for a general audience, focusing heavily on auction results and specific artworks without broader implications or analysis.
Noise Level: 3
Noise Justification: The article provides detailed information about recent art auctions at Christie’s and Phillips, including sales figures, notable works, and bidding outcomes. It also mentions a security breach that affected Christie’s website. However, the article lacks in-depth analysis, actionable insights, or exploration of broader implications beyond the art market.
Public Companies: Christie’s (Private), Phillips (Private)
Key People: Guillaume Cerutti (CEO), Alex Rotter (Chairman of the auction houses ’20/21′ art departments)

Financial Relevance: Yes
Financial Markets Impacted: Art market
Financial Rating Justification: The article discusses the recent contemporary art auctions at Christie’s and Phillips, highlighting the sales figures and records broken for various artists. This information is relevant to the art market, which is a financial market that involves the buying and selling of artworks for significant sums of money.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification:

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