NEW YORK.- Consolidated sales for Sotheby’s for 2008 were $5.3 billion. Auction sales were $4.9 billion. Sotheby’s sold the top lot of the year, Bacon’s Triptych 1976 ( $86.3 million). The world record price for Contemporary Art, Bacon’s Triptych 1976, was set at Sotheby’s in 2008. Sotheby’s sold the top lot of the autumn season, Malevich’s Suprematist Composition ($60 million). Sotheby’s sold the top Contemporary lot of the autumn season, Klein’s Archisponge ($21.4 million). Sotheby’s sold six out of the top ten lots in 2008. Sotheby’s sold 726 lots for over $1 million. Sotheby’s sold 114 lots for over $5 million. Sotheby’s sold 41 lots for over $10 million. Sotheby’s sold 14 lots for over $20 million. Sotheby’s further reduced lot volume by 38% in 2008.
Consolidated sales include auction sales, auction post sales, private sales and dealer revenue. As a reminder, Sotheby’s is the only global auction house that is a public company and provides complete financial transparency to its clients and their fiduciaries. Sotheby’s will be announcing full year 2008 audited financial results on February 26, 2009.