Pursuits
Basquiat Tops $8.7 Million Auction; Buyer Fatigue Crimps Demand
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A Jean-Michel Basquiat painting was the most expensive lot at a London sale as dealers said demand was tempered by caution and fatigue from a week of auctions.
Phillips de Pury & Co’s offering of 29 lots last night raised 5.4 million pounds ($8.7 million), with the mixed-media work by Basquiat accounting for 1.1 million pounds of the total.