Christie’s auction of a private collection of contemporary, post-war and folk art took in $52.4 million on Monday, hinting that prices in the booming contemporary market could well hold in the next two nights of critical sales at the auction house and rival Sotheby’s.

Works from the Allan Stone collection sold briskly, setting 12 new artists’ records including one for Wayne Thiebaud, whose “Seven Suckers” fetched $4,521,000 including Christie’s commission, making it the sale’s 3rd-highest priced work.

Christie’s said the sale’s results, with 90 percent of the 71 lots on offer finding buyers, showed the strength of the art market and also demonstrated the continued input of international capital.

“This evening we enjoyed fantastic participation from around the world,” said Christopher Burge, Christie’s honorary chairman who also served as auctioneer, after the sale.

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Posted: 11|13|07 at 9:27 am. Filed under: Auction News.