Russian Art Week Sales Expected to Reach $81 Million for Auction Houses in London

LONDON (REUTERS.- Auction houses are banking on a recovery at next week’s series of big Russian art sales in London, at which they expect to show that the market dominated by new money is through the worst of the recession. With most at stake are Sotheby’s and Russian specialist MacDougall’s, who together offer works worth between 27 and 39 million pounds ($45-64 million). Christie’s the world’s largest auction house, has pre-sale estimates of 6.5-9.3 million pounds. The figures are sharply [...]