Tuesday, June 29, 2010

Controversial Polaroid Auction Triumphs at Sotheby's - ARTINFO.com

Controversial Polaroid Auction Triumphs at Sotheby's - ARTINFO.com: "Sotheby’s sale of 1,200 photographs from the collection of the bankrupt Polaroid Corporation shook out and developed into a $12.47 million triumph, launching past its $10.7 million high estimate.
The two-day, four-part auction began last night with a marathon session that fetched $7.2 million, eclipsing the entire sale’s low estimate of $6.9 million as every single lot in the session sold, a feat that is known in auction parlance as a white glove affair. However, Sotheby’s had been forced to pull nine lots over concerns about the company’s right to sell the works, saddling a tiny asterisk to the auction feat. (Some artists, including Chuck Close, said they had given the company their photographs with the understanding that they would one day enter a museum.) Call it a no-hitter, but not a perfect game."