Marc Porter, Chairman Christie's, Spring 2010 Art Market: CNBC Interview

Marc Porter, Chairman Christie's North America, was interviewed on CNBC about the state of the International 2010 Art Market.

Mr. Porter discusses Christie's dominance in the marketplace; hedge fund buyers and its Art Market dominance given the $652 million Christie's realized from its Spring auction sales of Impressionist, Modern, Post-War and Contemporary Fine Art.

Notable Auction Records Achieved at Christie's Spring Auctions:

Pablo Picasso's Nude, Green Leaves and Bust, from the collection of Mrs. Sidney F. Brody, sold for $106,482,500, establishing a new auction world record for any Work of Art sold at auction.

Pablo Picasso Nude, Green Leaves and Bust
Sold at Christie's for $108 million, record price for a painting sold at auction

Jasper Johns Flag, from the Collection of Michael Crichton, sold for $28,642,500, a new record price for Jasper Johns Work sold at Auction.

Jasper Johns Flag sold for $28.6 million, auction record price for a Jasper Johns sold at auction.

Jasper Johns’ Savarin Monotype (ULAE S36), also from the Collection of Michael Crichton, was sold for $1,314,500., a all time high Record price for a single Post-War and Contemporary Print sold at Auction.

Jasper Johns Savarin Monotype sold for $1.3 million, auction record for a Print by a living Artist.

Mr. Porter, uunequivocally states neither margin nor credit is accepted by Christie's, demonstrating the magnitude of these records, even if the purchase is from a hedge fund buyers.

Joseph K. Levene Fine Art, Ltd.

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