The Fulds' Collection Fetches a Mere $13.5 Million

cityfile · 11/13/08 07:20AM

Looks like Christie's is out $6.5 million. At auction last night, Richard and Kathy Fuld's collection of drawings failed to reach the $20 million that Christie's had guaranteed the couple. The sixteen works fetched just $13.5 million, in keeping with the lackluster response to many other lots on the block. (A 1964 self-portrait by Francis Bacon, estimated at $40 million, didn't attract a single bidder.) One of the Fulds' drawings that fetched a decent price was an Arshile Gorky that Matthew Marks paid $2.2 million for, although that still barely hit the low estimate. But just so you know, it wasn't as if there was any connection between Kathy Fuld selling the art and the spectactular downfall of her husband's career. "I've been selling things for the past few years," Kathy told a reporter recently. "But nobody cared until now." [NYT, ABC]

Frieze Art Fair: Not Complete Washout

cityfile · 10/17/08 09:01AM

Sales are, no surprise, slow at the Frieze art fair in London, where all the art world people—Charles Saatchi, Dasha Zhukova, Dakis Joannou, Gavin Brown, Thelma Golden—have been circulating among celebrities—Gwyneth Paltrow, Sienna Miller, Sofia Coppola, Kate Bosworth, Emma Watson—for whom being seen at an art event is a nice way of distancing themselves from the contents of In Touch. "I come to Frieze every year," Gwyneth told reporters. "It's something I really look forward to." (Of course, she didn't actually buy anything, deciding instead to pose for the cameras and talk about the election.)