VOICED: No sale for Picasso, Giacometti at Sotheby's

The transcript discusses a Sotheby's auction in New York where high-value artworks, including a Picasso portrait and Giacometti's sculpture, failed to meet expected bids due to economic challenges. Despite spirited bidding, the art market is struggling, with fewer works for sale and lower prices. A press conference highlighted these issues, while a Christie's auction also faced similar challenges, with artworks being sold due to financial pressures from the Madoff scandal.

What was the expected price range for Picasso's 1938 portrait of his daughter Maya at the Sotheby's auction?

• $25 to $35 million

• $10 to $15 million

• $16 to $24 million

• $20 to $30 million

What percentage of works were sold at the Sotheby's auction according to the head of impressionist and modern art?

• 90%

• 70%

• 80%

• 60%

What was a significant challenge faced by the art market during the auction?

• Overproduction of art pieces

• Global financial crisis

• High reserve prices

• Lack of interest in modern art

Which auction house sold a Picasso piece due to a seller affected by the Madoff scandal?

• Phillips

• Bonhams

• Christie's

• Sotheby's

What was the final bid amount mentioned for the Picasso piece at Christie's auction?

• $8 million

• $7 million

• $6 million

• $5 million