Sotheby's prepares for online auction of major art

(27 Jun 2020) Sotheby's in New York is to hold what it calls the first major test of the art market since the start of the coronavirus outbreak.
The projected sale prices for works by artists like Francis Bacon, Pablo Picasso and Jean-Michel Basquiat are not being estimated any differently because of the pandemic, according to the auction house.
The sale on June 29 will be entirely livestreamed, with auctioneer Oliver Barker presiding over the event from London.
Unlike at previous auctions, there will be no floor where people will gather and raise paddles to bid.
Highlights of the auctioon include a Bacon triptych projected to sell for up to $80 million, a Roy Lichtenstein painting projected to sell for up to $30 million and a painting by Wilfredo Lam projected to sell for up to $12 million.
If the Lam art fetches the estimate, it would be the highest sale price ever at auction for a painting by an artist from Latin America.
Other big auction houses have scheduled major art auctions in the near future, including Phillips on July 2 and Christie's on July 10.

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