'We've Seen A Very Strong Demand In The Art Market,' Art Auction Sales Projected To Jump 50% This Year - Estee Lauder Cos (NYSE:EL)
Early reports from this week's New York fall art auctions show that experts’ sales totals predictions will be far surpassed.Sales were expected to hit $1.4 billion, CNBC reported last week, citing art experts. That number would have marked a 50% increase from last year's sales totals and put an end to three years of market declines. Christie's sales totals surpassed $960 million. Sotheby's has also outpaced initial predictions, generating $706 million on Tuesday for the highest single-night tota...