Christie’s Sales Soar in 2006

Christie’s says its auction sales were up 36 percent last year to $4.7 billion. “Christie’s and its rival Sotheby’s are benefiting from low interest rates and a 10-year trebling of contemporary prices that have made art an attractive investment for billionaires from Ronald Lauder in the U.S. to Hong Kong’s Joseph Lau. Sellers have been lured with promises of benefits such as minimum prices.”