With Pound Discounted, British Artist Sets Record at Sotheby’s

Asian and American collectors went art shopping at Sotheby’s on Tuesday, taking advantage of the drop in sterling after Britain voted to exit the European Union last week.

Chinese billionaire Liu Yiqian’s Long Museum fought to win a monumental Jenny Saville painting of naked female bodies stacked like sardines, outbidding four competitors including American art dealer Larry Gagosian. The work was the top lot of the boisterous evening sale that tallied 52.2 million pounds ($69.4 million), surpassing the high estimate. Forty of the 46 offered lots sold.

Jenny Savilles nudes painting.

Story continued at Source: http://www.bloomberg.com/news/articles/2016-06-29/with-pound-discounted-british-artist-sets-record-at-sotheby-s

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