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Christie’s Sales Surged 53% in 2010 on Contemporary-Art Rebound

Christie’s International said that the art market had regained strength and stability after its sales climbed 53 percent in 2010.

Total sales of 3.3 billion pounds ($5.2 billion) were a sterling record for the 245-year-old London-based auction house, it said in an e-mailed release. The auction market for contemporary art bounced back, contributing 602.6 million pounds to the total -- an increase of 147 percent. The $106.5 million paid at Christie’s New York for Pablo Picasso’s “Nude, Green Leaves and Bust” in May was a record for any work of art in a salesroom. A total of 606 works achieved more than $1 million, as against 381 in 2009.