New York Old Masters sales fall just short of expectations at Christie's and Sotheby's amid 'tough' market

The premier Old Master auctions at Christie's and Sotheby's in New York this winter showed some improvement over last year, but still did not meet pre-sale estimates. Christie's achieved $19.5 million, just below an estimate of up to $33.2 million, despite significant individual sales such as a Portrait of George the Bearded and an Adam and Eve piece which sold for $1.65 million. Other works, like Pieter Claesz's still life, underperformed against their expectations. Nonetheless, the overall results were better than last January, indicating some recovery in the auction market.

"Christie's New York staged a bumpy and uneven Old Master sale on Wednesday, making $19.5m, just shy of its revised pre-sale estimate of $22.2m to 33.2m after four withdrawals."

"The sombre yet impressively outfitted Portrait of George the Bearded, Duke of Saxony attributed to Lucas Cranach I sold for $260,000, settling a restitution dispute over ownership."

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