World Art Auction Record Set

Christie's International sold $491.5 million of impressionist and modern art last night in New York, setting a record for a single art auction and topping the previous high by $205 million. A Gustav Klimt portrait of Adele Bloch-Bauer fetched the evening's top price of $87.9 million, an art auction record for the Austrian artist. Last night's total was well above Sotheby's $239 million impressionist and modern art sale on Tuesday night. The standing-room-only crowd overflowed into three other rooms at Christie's Rockefeller Plaza outpost, where spectators and even bidders watched the action on video. Paul Gauguin's 1891 "Man With an Ax," in lush plums and oranges, had been touted by Christie's as the most important Gauguin to be auctioned in 25 years. Estimated to go for $35 million to $45 million, it sold for $40.3 million after a handful of bids. "These prices are huge,'' said dealer Rachel Mauro, President of Dickinson Roundell Inc. "In the last few months, with the private sales, there seems to be a new benchmark that's been set, a new tolerance level.'' For the full story - click the title Irish Art