We have been growing increasingly optimistic
with the pace of our real estate recovery in the past 12 months, which has been
supported by growing economic strength in the Bay Area. But we also look to
indicators outside our industry for reinforcement – and are pleased that we’re
finding those, too.
Case in point: the just-released 2012 summary of
art-auction activity from Christie’s, the parent company of Pacific Union’s
real estate partner, Christie’s International Real Estate. The venerated
auction house posted sales of $6.27 billion last year and saw increases in both
new clients and the number of bidders per auction. The highest auction price
for the year at Christie’s was paid for Mark Rothko’s Orange, Red, Yellow which
sold on 8 May in New York for $86,882,500, establishing a world record price
for any contemporary work of art sold at auction.
For more, read the full story at Christies.com: http://bit.ly/ULTkCL
