0:00:02 > 0:00:04'I'm sitting as an observer but not a bidder and I have an itch on
0:00:04 > 0:00:07'my nose and I scratch my nose, might you not think I am bidding?'
0:00:07 > 0:00:08You might be bidding.
0:00:08 > 0:00:11It could be a very expensive night at Christie's.
0:00:12 > 0:00:15With billions of dollars of sales going under this man's gavel
0:00:15 > 0:00:19last year, Christie's is the world's largest auction house.
0:00:24 > 0:00:28At the crossroads of art, taste and money,
0:00:28 > 0:00:30it brings together great works of art...
0:00:30 > 0:00:34So, you get, in a way, a lot of Monet for your money.
0:00:34 > 0:00:36..fervent collectors...
0:00:36 > 0:00:38Is it addiction, passion, compulsion,
0:00:38 > 0:00:41obsession or have you just got to have it?
0:00:41 > 0:00:43..world-beating prices...
0:00:43 > 0:00:45- 50 million.- Whoo!
0:00:45 > 0:00:48..and the fine art of the sell.
0:00:48 > 0:00:52Price range is between 25 and 35 million.
0:00:52 > 0:00:54And it's a good way to start.
0:00:54 > 0:01:00This year, this great British brand celebrates its 250th anniversary.
0:01:00 > 0:01:04To mark it, Christie's have taken the unprecedented step of allowing
0:01:04 > 0:01:08our cameras into the back rooms, boardrooms and private parties.
0:01:08 > 0:01:11Over the course of a year, we will have access to
0:01:11 > 0:01:16a company which is at the epicentre of a secretive and private world.
0:01:16 > 0:01:18There are only, I think, three people in Christie's
0:01:18 > 0:01:21who know who bought that painting.
0:01:21 > 0:01:24We watch them use every weapon in their arsenal
0:01:24 > 0:01:26to entice the rich around the world.
0:01:26 > 0:01:28- You've been looking for a Mounir for some time.- Yes.
0:01:28 > 0:01:31And actually, one that would go well with your collection.
0:01:31 > 0:01:34But auctioneering is a precarious business.
0:01:34 > 0:01:37In its time, Christie's has weathered slumps and in 2016,
0:01:37 > 0:01:41there were signs of a downturn in the art market.
0:01:41 > 0:01:44We have turmoil in financial markets.
0:01:44 > 0:01:46It's difficult to predict how the art market will perform.
0:01:46 > 0:01:49You don't have to buy a picture.
0:01:49 > 0:01:51And sold at 1,350.
0:01:51 > 0:01:55So, will they stay at the top of their £5-billion-a-year game?
0:01:55 > 0:01:58Or, thanks to storms in the global economy,
0:01:58 > 0:02:02will this anniversary year see their fortunes turn?
0:02:03 > 0:02:0539. 40 million.
0:02:06 > 0:02:08Would anybody else like to come in?
0:02:17 > 0:02:23This programme contains some strong language
0:02:23 > 0:02:26Christie's was started 250 years ago in 1766
0:02:26 > 0:02:30by a Scotsman, James Christie, here in St James's,
0:02:30 > 0:02:32one of the poshest parts of London.
0:02:32 > 0:02:36But perhaps surprisingly, anyone can just wander in,
0:02:36 > 0:02:37although you are unlikely to be shown around
0:02:37 > 0:02:40by the global president.
0:02:40 > 0:02:41I haven't actually been upstairs yet,
0:02:41 > 0:02:44so it'll be nice to see what's on view
0:02:44 > 0:02:45and who's in the rooms.
0:02:46 > 0:02:50Finnish-born Jussi Pylkkanen is the man who personally auctioned
0:02:50 > 0:02:53over 3 billion worth of sales last year
0:02:53 > 0:02:55and, more than anyone else,
0:02:55 > 0:02:59the success of Christie's anniversary rests on his shoulders.
0:03:00 > 0:03:04What's going on today? What's on view?
0:03:04 > 0:03:08So, today, we have the view for our fine Chinese ceramic works of art.
0:03:08 > 0:03:10Christie's used to get the goods they sell
0:03:10 > 0:03:12by what's known as the three Ds.
0:03:13 > 0:03:15'There was death, divorce and debt.
0:03:15 > 0:03:18'The three Ds was traditionally the way in which we looked at
0:03:18 > 0:03:20'our business. Of course, that's all changed today
0:03:20 > 0:03:22'because we proactively go to people saying that,
0:03:22 > 0:03:26' "The art market for a particular type of work of art is very strong.
0:03:26 > 0:03:28' "You know, would you consider selling your work of art?"
0:03:28 > 0:03:30We chase works of art based on
0:03:30 > 0:03:33the amount of interest there is from, perhaps, Chinese
0:03:33 > 0:03:35or from Asian, Russian, Middle Eastern
0:03:35 > 0:03:38or European, American collectors in a particular field.
0:03:38 > 0:03:40And we say, "Look, you owned this for 20, 35 years,
0:03:40 > 0:03:43"now's your opportunity to make a fabulous price."
0:03:43 > 0:03:46The gentleman is looking at a very rare vase...
0:03:46 > 0:03:49Beautiful? Important?
0:03:49 > 0:03:53- The colour is incredible.- Is that what you're looking for, the colour?
0:03:53 > 0:03:55Will you be bidding, gentlemen?
0:03:55 > 0:03:57You'll be bidding for this in the sale?
0:03:57 > 0:04:00Maybe? Good. Good luck. I will not be the auctioneer,
0:04:00 > 0:04:02so you'll have every chance of buying it.
0:04:04 > 0:04:07When James Christie founded his firm,
0:04:07 > 0:04:09George III was on the throne
0:04:09 > 0:04:13and there were 200 competing auction houses in London.
0:04:13 > 0:04:16Now it's overtaken its only real rival, Sotheby's,
0:04:16 > 0:04:19to be the biggest auction house in a global art market,
0:04:19 > 0:04:22worth 64 billion a year.
0:04:22 > 0:04:24In your job, you can say, "Oh, I can see this is coming through
0:04:24 > 0:04:27"I'd like it in my office for three weeks." Is that how it works?
0:04:27 > 0:04:28Yes.
0:04:30 > 0:04:33This is a fantastic Stubbs from 1778 and the reason it's here is
0:04:33 > 0:04:36that's two years after Christie's was founded
0:04:36 > 0:04:39and I'm very interested in the history of the firm.
0:04:39 > 0:04:41And whenever we see these great works from the same period,
0:04:41 > 0:04:43I'm intrigued to live with them for a while
0:04:43 > 0:04:46and understand a little bit about what it must've been like
0:04:46 > 0:04:48for James Christie when he was running the firm.
0:04:48 > 0:04:50So, this is James Christie at the rostrum
0:04:50 > 0:04:51and, as you can see, very little has changed.
0:04:51 > 0:04:54He's got his glasses on the top of his forehead
0:04:54 > 0:04:57as opposed to on his nose as I wear them,
0:04:57 > 0:05:00but he's holding the gavel, very similar to my own and, you know,
0:05:00 > 0:05:03he's got his auctioneers' book and his notes in front of him.
0:05:03 > 0:05:06And it just shows you how little has changed.
0:05:07 > 0:05:10In fact, a lot has changed
0:05:10 > 0:05:14but what they've always done is follow the money.
0:05:14 > 0:05:16From the Arab sands of the Middle East came oil
0:05:16 > 0:05:19and that meant wealth - lots of it.
0:05:20 > 0:05:21So, ten years ago,
0:05:21 > 0:05:26Christie's became the first art auctioneers to open up in Dubai.
0:05:26 > 0:05:30Now, the Dubai sales week in March kicks off the main auction season
0:05:30 > 0:05:33and is seen as a barometer for the year ahead.
0:05:33 > 0:05:37With even the rich subject to the current economic storms,
0:05:37 > 0:05:39Christie's are leaving nothing to chance
0:05:39 > 0:05:40and have flown in a team of 50
0:05:40 > 0:05:45and transformed the ballroom of one of the best five-star hotels
0:05:45 > 0:05:47into their saleroom.
0:05:47 > 0:05:50110, the gentleman's bid centre-left.
0:05:50 > 0:05:54Sold at 580,000. 78.
0:05:56 > 0:05:59Jussi is showing this senior government minister
0:05:59 > 0:06:02one of tonight's star attractions.
0:06:02 > 0:06:06He was explaining to me that the Arabic script here reads...
0:06:06 > 0:06:11"The misery of the Muslims in the world, is there an end to it?"
0:06:11 > 0:06:14Children actually fighting. The dagger.
0:06:14 > 0:06:17An extraordinary work of art.
0:06:17 > 0:06:21Jussi and his colleagues knew that opening here was risky.
0:06:21 > 0:06:24The culture of the souk is to haggle down
0:06:24 > 0:06:27and they were worried that the idea of bidding up would be resisted.
0:06:27 > 0:06:30'We were very concerned when we came here as to whether it would be
0:06:30 > 0:06:33'culturally apposite to compete in a public arena,
0:06:33 > 0:06:36'one with the other, to acquire works of art.'
0:06:36 > 0:06:38I went to the Dubai Gold Cup,
0:06:38 > 0:06:42which is this extraordinary racing event which takes place annually,
0:06:42 > 0:06:44and it was famous for being the richest horse race in the world.
0:06:44 > 0:06:48'And when you go to the racecourse, there's no betting on the course
0:06:48 > 0:06:52'but the sense of competition and the will for different horses,
0:06:52 > 0:06:56'belonging to different owners, to win the race was extraordinary.'
0:06:56 > 0:07:00So we discovered that actually there's a tremendous sense
0:07:00 > 0:07:02of wanting to compete one with the other.
0:07:02 > 0:07:04650,000.
0:07:04 > 0:07:06- 700 with me next. With me.- Bidding, sir.
0:07:06 > 0:07:10700,000 back to Valerie. Anybody else want to jump in now?
0:07:10 > 0:07:11An extremely important work.
0:07:11 > 0:07:14- It's at 700,000.- Bidding, sir. - 750 now.
0:07:14 > 0:07:18- Bidding, sir.- 800,000. That's not a bid here, sir?
0:07:18 > 0:07:20That's just a point. A dangerous thing to do.
0:07:20 > 0:07:23800,000 with you, Valerie. And I'm selling...
0:07:23 > 0:07:25The battle is not just between people in the room,
0:07:25 > 0:07:29but clients bidding distantly via Christie's employees.
0:07:29 > 0:07:31- Bidding, sir.- 900,000.
0:07:31 > 0:07:36- Bidding.- 950,000. We know what's next.
0:07:36 > 0:07:38Shake of the head! At 950,000.
0:07:38 > 0:07:42We're selling here at 950,000.
0:07:44 > 0:07:45Sold at 950,000.
0:07:49 > 0:07:51We've got the jewellery sales here...
0:07:51 > 0:07:55Christie's don't just wait for buyers, they go after them.
0:07:55 > 0:07:57Private sales for the jewels.
0:07:57 > 0:07:58This collector from Bahrain
0:07:58 > 0:08:01started by being interested in jewellery,
0:08:01 > 0:08:04but then Christie's Isabelle de la Bruyere
0:08:04 > 0:08:05came in to his life.
0:08:05 > 0:08:08Unique work, which actually will go well
0:08:08 > 0:08:10with pieces in your collection already.
0:08:10 > 0:08:13For the last seven years, she has been charming,
0:08:13 > 0:08:17indeed, encouraging him to buy evermore expensive art.
0:08:17 > 0:08:20So, it's quite an extraordinary piece from 1974.
0:08:20 > 0:08:23- You've been looking for a Mounir for some time.- Yes, for a while now.
0:08:23 > 0:08:26Almost impossible to find.
0:08:26 > 0:08:29It's, today, at 180,000 to 240,000
0:08:29 > 0:08:31and actually one that would go well with your collection.
0:08:31 > 0:08:34I head up the client advisory department
0:08:34 > 0:08:36for Europe, Middle East, Russia and India.
0:08:36 > 0:08:38That means really working with private buyers,
0:08:38 > 0:08:40multi-category buyers
0:08:40 > 0:08:44'and helping them to put together a collection.
0:08:44 > 0:08:47'I get to know their taste. I get to know what they like.'
0:08:47 > 0:08:52So, very often, I'll see things for them they may not have seen
0:08:52 > 0:08:54and I'll...show it to them.
0:08:54 > 0:08:57Obviously, considered to be one of the great grandfathers
0:08:57 > 0:08:58of modern Egyptian art.
0:08:58 > 0:09:02It's in Nubia. The feluccas, going down the Nile,
0:09:02 > 0:09:08the reflections of the desert into the Nile.
0:09:08 > 0:09:10It's all about the landscape.
0:09:10 > 0:09:14The colours are beautiful. It's very vibrant and it's very him.
0:09:14 > 0:09:18This should definitely sell well. I would say probably for 100,000.
0:09:18 > 0:09:23There was an auction where there was an estimate of...
0:09:23 > 0:09:26it was a contemporary Iranian artist,
0:09:26 > 0:09:2910,000 to 15,000.
0:09:29 > 0:09:31We ended up paying much more for it.
0:09:31 > 0:09:35Probably 50. And today, it's probably worth, like, 300, 400.
0:09:35 > 0:09:38And this is only three years, four years, so...
0:09:38 > 0:09:40- INTERVIEWER:- '300,000, yeah?'
0:09:40 > 0:09:42Thousand, yeah. So, yeah.
0:09:42 > 0:09:44And at the time, when we paid the 50, everybody thought,
0:09:44 > 0:09:46you know, "You're crazy. You know, this is a..."
0:09:46 > 0:09:49And I remember, I called Isabelle... I always have this.
0:09:49 > 0:09:51I always call her after the sale. "How did I do this? This is a lot."
0:09:51 > 0:09:54- Buyer's remorse.- Buyer's remorse every sale.
0:09:54 > 0:09:56"How did I do this? This is crazy."
0:09:56 > 0:09:58And she's like, "Don't worry, don't worry."
0:09:58 > 0:10:02'There's also a huge element of trust and that takes years to build.
0:10:02 > 0:10:04'You know it takes a long time. I've been at Christie's...'
0:10:04 > 0:10:0717 years now and it's...
0:10:07 > 0:10:10You know, many of the clients I have and still work with today
0:10:10 > 0:10:13are clients I've actually met 17 years ago.
0:10:13 > 0:10:17THEY GREET EACH OTHER IN FRENCH
0:10:19 > 0:10:22One Bahraini client may have graduated from jewellery
0:10:22 > 0:10:24to fine art thanks to Isabelle,
0:10:24 > 0:10:27but Christie's know that there's still plenty of money
0:10:27 > 0:10:28to be made from luxury goods.
0:10:30 > 0:10:31You have two types of watches -
0:10:31 > 0:10:33flashy or classy, you know what I mean?
0:10:33 > 0:10:37- So, I mean...- 'Which are you into?'
0:10:37 > 0:10:39I... Ooh.
0:10:39 > 0:10:42I'm going to lie by saying classy.
0:10:42 > 0:10:45'Do you have many?'
0:10:45 > 0:10:47- Define many. - THEY LAUGH
0:10:47 > 0:10:49I might actually go for this one,
0:10:49 > 0:10:53which is a Patek Philippe 5960P, platinum.
0:10:53 > 0:10:55There's just something about this watch. It just sings to me.
0:10:55 > 0:10:59- 'It sings to you?'- It just sings to me.- 'How? What's the tune?'
0:10:59 > 0:11:02It moves me, it's something I love and it's a statement.
0:11:02 > 0:11:04'So, let's see how the auction goes.
0:11:04 > 0:11:06'The piece that I was interested in,
0:11:06 > 0:11:08'seems like there's a lot of interest,'
0:11:08 > 0:11:09so it's going to be very aggressive.
0:11:10 > 0:11:13'Although, I always say I'm going to control it, but I mean,
0:11:13 > 0:11:16'let's be honest, it never really lasts long before you're like...'
0:11:18 > 0:11:22..pulling up the paddle, really. You know, speaking of that.
0:11:22 > 0:11:24- Devil's number.- 'Let's have a look.'
0:11:26 > 0:11:28- 'Is that by choice or...?' - Yeah, by choice.
0:11:30 > 0:11:33I...I'm a bit of a metalhead, so a bit of Iron Maiden,
0:11:33 > 0:11:34you know, Number Of The Beast.
0:11:34 > 0:11:37Kind of one of my things. I kind of like the numbers.
0:11:37 > 0:11:39# 666
0:11:39 > 0:11:42# The number of the beast
0:11:42 > 0:11:46# Sacrifice is going on tonight... #
0:11:46 > 0:11:5019,000, the gentleman sitting here on my right.
0:11:50 > 0:11:5120,000.
0:11:51 > 0:11:54Could you please try at least 21?
0:11:54 > 0:11:56No? Sure?
0:11:58 > 0:12:00Thank you very much. 21,000 now.
0:12:00 > 0:12:03Back to the gentleman seated here, in the room, in Dubai.
0:12:03 > 0:12:05No? No further interest?
0:12:05 > 0:12:10Thank you anyway for your bidding. So, it is yours at 21,000.
0:12:10 > 0:12:15Thank you, it's yours at 21,000 and your paddle number is...? 666.
0:12:15 > 0:12:18- You should have stopped at 15. - I should have,
0:12:18 > 0:12:20but I progressed to 21.
0:12:20 > 0:12:22THEY LAUGH
0:12:22 > 0:12:24So, it is a dangerous game.
0:12:27 > 0:12:31Before their main sale, Jussi has popped into Dubai's art fair,
0:12:31 > 0:12:33which coincides with Christie's week,
0:12:33 > 0:12:38and suddenly morphs from seller to buyer.
0:12:38 > 0:12:40I think the shapes are beautiful, I love the surface,
0:12:40 > 0:12:43the texture is superb, the balance is wonderful.
0:12:43 > 0:12:46I think this is one for me. I would like to buy that.
0:12:47 > 0:12:49Tell me what the price is.
0:12:50 > 0:12:52It's beautiful. This is going to Christie's.
0:12:52 > 0:12:55This will sit on the middle of the table.
0:12:55 > 0:12:57Eight, of course, is the lucky number.
0:12:57 > 0:13:01- You know why eight is a lucky number?- Tell me.- Lot number eight
0:13:01 > 0:13:04was the lot number of the Modigliani that we sold.
0:13:04 > 0:13:05Lot number eight was the number
0:13:05 > 0:13:08of the Francis Bacon triptych that we also sold
0:13:08 > 0:13:11and lot number eight was the number of the Picasso that we sold.
0:13:11 > 0:13:13So, the three most expensive pictures
0:13:13 > 0:13:15in the history of the art market at auction,
0:13:15 > 0:13:18so you've got to go for number eight. It's the lucky number.
0:13:18 > 0:13:21It's funny, when you find an art work,
0:13:21 > 0:13:23whether it's at auction or in a gallery,
0:13:23 > 0:13:26you do have this sort of relationship
0:13:26 > 0:13:29which you establish immediately with it and you just have to commit.
0:13:29 > 0:13:31It's like falling in love. If you find a woman that you think
0:13:31 > 0:13:34is absolutely the right person for you, for God's sake,
0:13:34 > 0:13:37don't hesitate cos somebody else will come up and scoop her up.
0:13:41 > 0:13:44With just hours to go, nothing is left to chance.
0:13:44 > 0:13:47Jussi consults his team, who have been gathering intelligence
0:13:47 > 0:13:50about who might be bidding tonight.
0:13:50 > 0:13:52Yesterday, at the art fair, we went a bit early,
0:13:52 > 0:13:55so I couldn't really judge how many people there are in town.
0:13:55 > 0:13:59I'm hoping that more of the Iranian collectors are coming to town.
0:13:59 > 0:14:02- Mike, have you heard anything on it? - Yeah, but they're all here.
0:14:02 > 0:14:03- They're all here.- They are all here?
0:14:03 > 0:14:05I was with them last night. They're coming.
0:14:05 > 0:14:08Can we just literally run through the 40 lots
0:14:08 > 0:14:10and say where there's plenty of interest
0:14:10 > 0:14:12or where you feel that we are a little bit soft?
0:14:12 > 0:14:14Lot two is selling in the room.
0:14:14 > 0:14:20- Lot three is selling in two to three places, at least.- Yeah. I'm on it.
0:14:20 > 0:14:22- Eileen is on it.- Great.
0:14:22 > 0:14:24You know, we don't like to go into an auction
0:14:24 > 0:14:26not knowing what's going to happen.
0:14:26 > 0:14:28I can tell you the only time that happened was ten years ago
0:14:28 > 0:14:30with the first auction here in Dubai,
0:14:30 > 0:14:32where it was truly one of those rare moments
0:14:32 > 0:14:34where we had no idea what was going to happen.
0:14:34 > 0:14:37There were no bids no bids in the book, very few telephone lines,
0:14:37 > 0:14:41so when we went to the auction room and it was a packed audience
0:14:41 > 0:14:44and the first lot came up and it flew above its presale estimate,
0:14:44 > 0:14:48I remember the sigh of relief around the room when that happened.
0:14:48 > 0:14:51I had a significant client ring me last night.
0:14:51 > 0:14:55Isabelle is going to be talking to them today about a piece
0:14:55 > 0:14:58which they haven't seen, but they...
0:14:58 > 0:15:00Well, they certainly can go all the way and further.
0:15:00 > 0:15:03Well, there's a bit of work to be done. Good, you've got a few hours.
0:15:19 > 0:15:23I believe that the advent of Christie's in 2006
0:15:23 > 0:15:27was the tipping point that internationalised and globalised
0:15:27 > 0:15:29the Middle East art market.
0:15:29 > 0:15:33The fact that a huge and respected art auction
0:15:33 > 0:15:37with all the industry that comes behind it,
0:15:37 > 0:15:40having arrived here in Dubai alerted the world.
0:15:40 > 0:15:42If Christie's is there,
0:15:42 > 0:15:44that means there must be something interesting going on.
0:15:50 > 0:15:52I can take out, maybe, 50% of these works
0:15:52 > 0:15:55and go to any international museum and just hang them on the wall.
0:15:55 > 0:15:56They'd feel right at home.
0:15:56 > 0:15:59INTERVIEWER: Are you intending to buy 50%?
0:15:59 > 0:16:02If I can raise the funds in the next half an hour, sure.
0:16:09 > 0:16:10It is buzzing.
0:16:10 > 0:16:13The Dubai buzz has started, the anticipation in the saleroom.
0:16:13 > 0:16:16Well, we've got a lot of Iranians.
0:16:16 > 0:16:17Quite a few from Egypt,
0:16:17 > 0:16:20a few that have flown in from London and France.
0:16:20 > 0:16:23Good luck to all of you bidding tonight.
0:16:23 > 0:16:26There'll be a lot of competition for the best works,
0:16:26 > 0:16:27so gird your loins. Here we go.
0:16:27 > 0:16:29So, lot number one is El-Gazzar.
0:16:29 > 0:16:31We start the bidding here at 110,000.
0:16:31 > 0:16:33- 110,000.- Bid!- 120 with Isabelle.
0:16:33 > 0:16:35130 against you. 140 against you.
0:16:37 > 0:16:40Auction houses need connections, of course,
0:16:40 > 0:16:42but it's still a bit of a surprise
0:16:42 > 0:16:46that the Queen's nephew, Viscount Linley, mans the phones.
0:16:46 > 0:16:48He is titled Honorary Chairman
0:16:48 > 0:16:51for Europe, the Middle East, Russia and India.
0:16:53 > 0:16:56In the past, I have spoken to
0:16:56 > 0:17:00people from Russia and... woken them up.
0:17:02 > 0:17:05I've spoken to people from Hong Kong,
0:17:05 > 0:17:07I was speaking to people from Canada, New York.
0:17:07 > 0:17:09Bid here, sir.
0:17:09 > 0:17:14The complications can be that you ask them a question at 100,
0:17:14 > 0:17:16and they take an enormously long time to reply
0:17:16 > 0:17:18and you say, "Do you wish to bid?" And they say...
0:17:20 > 0:17:23"Yes." And by which time, it's gone to 200.
0:17:23 > 0:17:25200,000 is here.
0:17:25 > 0:17:29Isabelle is on the phone, bidding for an apparently absent client.
0:17:29 > 0:17:32But suddenly it becomes apparent that
0:17:32 > 0:17:35the Bahraini gentleman she'd been showing the mirrored picture earlier
0:17:35 > 0:17:40is in the room, and in strange synchronicity, on the phone.
0:17:40 > 0:17:44- At 300,000.- 310. - And 10, I'll take. 310,000.
0:17:44 > 0:17:48It can be part of the game to appear disinterested to mask your bidding.
0:17:48 > 0:17:51310 with Isabelle. At 310,000.
0:17:51 > 0:17:54Are you all done, sir? Last chance. Selling here.
0:17:54 > 0:17:58- HE BANGS GAVEL - 310 to Isabelle.
0:17:59 > 0:18:02The market has begun, the season has begun, is how I feel about it.
0:18:02 > 0:18:04It's great to get out of the traps, and we're running.
0:18:04 > 0:18:06- HE BANGS GAVEL - You have it, sir.
0:18:06 > 0:18:08It's yours, sir. Sold to you, sir.
0:18:08 > 0:18:09Yours, it is.
0:18:10 > 0:18:15Every detail of the successful Dubai sales will be sent back here,
0:18:15 > 0:18:18to Christie's London headquarters.
0:18:18 > 0:18:21Four floors down below street level lies their archives
0:18:21 > 0:18:25that record everything they've sold in the last 250 years.
0:18:27 > 0:18:31Knowing the history of a work helps authenticate it,
0:18:31 > 0:18:33and that makes Christie's more money.
0:18:34 > 0:18:36The provenance is basically the history,
0:18:36 > 0:18:38the journey of a work of art.
0:18:38 > 0:18:39And if we can provide...
0:18:39 > 0:18:42If we can harvest the information that we have here,
0:18:42 > 0:18:46we're able to provide specialists with the history of the piece
0:18:46 > 0:18:48that they're hopefully about to sell.
0:18:50 > 0:18:53This is a catalogue of rich household furniture
0:18:53 > 0:18:55of a person of fashion.
0:18:56 > 0:19:00And here we've got Mr Christie's name and the date of the sale.
0:19:00 > 0:19:03So, it's 17 March 1773.
0:19:03 > 0:19:04This is a household sale,
0:19:04 > 0:19:08so we have amazing mundane things like a mattress,
0:19:08 > 0:19:11a large blanket and white cotton counterpane,
0:19:11 > 0:19:14some elegant elbow chairs.
0:19:14 > 0:19:15That's Mr Christie's handwriting.
0:19:15 > 0:19:20The mattress sold for the princely sum one pound and eight shillings
0:19:20 > 0:19:22to somebody called Jenkins.
0:19:22 > 0:19:23That's quite expensive.
0:19:23 > 0:19:26That's quite an expensive mattress. Absolutely.
0:19:26 > 0:19:31On the second day of the sale, we can see there's a Rembrandt.
0:19:31 > 0:19:36The Rembrandt, which was lot 26, sold for...
0:19:36 > 0:19:38one pound, eight shillings.
0:19:40 > 0:19:42That's not much more than the mattress.
0:19:42 > 0:19:43- SHE CHUCKLES - That's true.
0:19:43 > 0:19:46Oh, it's style of Rembrandt. OK.
0:19:46 > 0:19:49That's why it went for one pound, eight shillings.
0:19:49 > 0:19:51He knew how to promote his sales,
0:19:51 > 0:19:53he sold his catalogues in coffee houses,
0:19:53 > 0:19:54and he promoted his sales
0:19:54 > 0:19:57by advertising in The Morning Chronicle.
0:19:57 > 0:20:00Thomas Gainsborough was his neighbour and a great friend,
0:20:00 > 0:20:03and he was great friends with a number of dealers.
0:20:03 > 0:20:08So he relied on other people for the expertise in the cataloguing.
0:20:08 > 0:20:09Christie had such a great name
0:20:09 > 0:20:13that people wanted to consign with the auction house.
0:20:13 > 0:20:15Here we've got some pictures,
0:20:15 > 0:20:18consigned from abroad from Count Bruhl, deceased.
0:20:18 > 0:20:21He was the Prime Minister to the late King of Poland.
0:20:21 > 0:20:25On the first day of the sale, we have a Titian,
0:20:25 > 0:20:27painting of St Jerome.
0:20:27 > 0:20:32And lot 24 sold for £105 to Mr Walsh.
0:20:32 > 0:20:37I mean, that's a very decent price to get for a 1770 sale,
0:20:37 > 0:20:42considering that an annual salary was £20 a year.
0:20:42 > 0:20:46MUSIC: Rhapsody In Blue by George Gershwin
0:20:54 > 0:20:57After 100 years of essentially selling to rich Brits,
0:20:57 > 0:20:59Christie's discovered a new set of customers
0:20:59 > 0:21:02in the middle of the 19th century -
0:21:02 > 0:21:04rich visiting Americans.
0:21:04 > 0:21:06But it wasn't until the 1970s
0:21:06 > 0:21:09that they opened up auction rooms in New York,
0:21:09 > 0:21:12now located at this swanky Rockefeller Plaza address.
0:21:13 > 0:21:17Traditionally, Christie's sold them classic European art.
0:21:17 > 0:21:20But now, as tastes change, they're having to work harder
0:21:20 > 0:21:23at selling what could be called "old art".
0:21:28 > 0:21:30Good morning, ladies and gentlemen,
0:21:30 > 0:21:33and welcome to our sale, here, of antiquities.
0:21:33 > 0:21:34The first sale...
0:21:34 > 0:21:36This is the morning antiquities sale,
0:21:36 > 0:21:39and the atmosphere is distinctly listless
0:21:39 > 0:21:41compared to the buzz in Dubai.
0:21:41 > 0:21:45Proof that, in the classics, the sell isn't always easy.
0:21:45 > 0:21:471,000. Somewhere.
0:21:50 > 0:21:53Anyone want this at 1,000? 500?
0:21:53 > 0:21:55Is bid! Austria, welcome.
0:21:55 > 0:21:58At 500. 600 from New York.
0:21:58 > 0:22:00All on the internet. Any more?
0:22:00 > 0:22:03At 750...
0:22:03 > 0:22:05- HE BANGS GAVEL - ..is sold.
0:22:05 > 0:22:09Some sellers are so desperate that bargains can be had.
0:22:09 > 0:22:11At 15,000.
0:22:11 > 0:22:15But most put a reserve price below which the auctioneer cannot sell,
0:22:15 > 0:22:17and it becomes a pass.
0:22:17 > 0:22:18Is a pass.
0:22:19 > 0:22:21At 11,000...
0:22:21 > 0:22:24- HE BANGS GAVEL - ..is a pass.
0:22:24 > 0:22:26When lots are unsold,
0:22:26 > 0:22:29Christie's, working on commission, make no money.
0:22:29 > 0:22:30So in a struggling market,
0:22:30 > 0:22:32Christie's tries to persuade sellers,
0:22:32 > 0:22:35even at the last minute, to lower their reserves.
0:22:36 > 0:22:38Is a pass.
0:22:38 > 0:22:40Behind the scenes, Jussi wants to know
0:22:40 > 0:22:42the results of those conversations.
0:22:42 > 0:22:46141. Now, this is the one where we may change the reserve
0:22:46 > 0:22:49based on what happens earlier in the sale.
0:22:49 > 0:22:51- Right, yeah. - But we will take a 100K hit.
0:22:51 > 0:22:53So 1.7 now.
0:22:53 > 0:22:58- 112.- Yeah.- 35.- 35?- Yeah.
0:22:58 > 0:23:01That's come down another notch, cos I had 40 already.
0:23:01 > 0:23:03109.
0:23:03 > 0:23:05We're going to take 50K discretion,
0:23:05 > 0:23:09so it would be 550 right now, but we may get that reserve down.
0:23:09 > 0:23:12280,000 with you. At 280,000...
0:23:12 > 0:23:14But auction houses have another tactic
0:23:14 > 0:23:17to get bidders up to the reserve price.
0:23:17 > 0:23:19Before that point, they can create
0:23:19 > 0:23:22the appearance of interest in the room to push up the bids,
0:23:22 > 0:23:24and it's quite legal.
0:23:24 > 0:23:27We often say that auctioneers are failed comedians,
0:23:27 > 0:23:30and, you know, one of the fun things of doing,
0:23:30 > 0:23:34when you're up on the rostrum, is faking it.
0:23:34 > 0:23:37You are not able to sell the picture at the price below the reserve -
0:23:37 > 0:23:40you therefore have to create a counter bid.
0:23:40 > 0:23:45And that's when, you know, you have to give the impression
0:23:45 > 0:23:47that this counterbid may be real.
0:23:47 > 0:23:5185,000 only. Start me off at 85. 90,000. For 90,000...
0:23:51 > 0:23:53'So that whoever is in the game'
0:23:53 > 0:23:57will continue bidding because he wants it.
0:23:57 > 0:24:0095,000 now. For 95,000.
0:24:00 > 0:24:03'My goal is going to be to give the feeling that
0:24:03 > 0:24:06'this bid could be a real bid
0:24:06 > 0:24:10'by someone who's actually possibly about to buy the picture.
0:24:10 > 0:24:14'My only hope is that this client in the room
0:24:14 > 0:24:16'will continue bidding to the reserve'
0:24:16 > 0:24:18when I will legally be able to sell it.
0:24:18 > 0:24:21At 95, it is. Fair warning.
0:24:21 > 0:24:24But sometimes the tactic doesn't succeed.
0:24:24 > 0:24:26At 95, then. Pass.
0:24:27 > 0:24:30This sleight of hand is within the rules.
0:24:30 > 0:24:33But 20 years ago, Christie's went beyond the rules,
0:24:33 > 0:24:36fixing commissions with apparent rivals Sotheby's.
0:24:36 > 0:24:39It became a massive scandal.
0:24:39 > 0:24:41The men who ran the world's two most famous auction houses
0:24:41 > 0:24:43have been charged with fixing prices.
0:24:43 > 0:24:46Sotheby's former chairman, Alfred Taubman,
0:24:46 > 0:24:48and the man who ran Christie's, Anthony Tennant,
0:24:48 > 0:24:50both deny running a conspiracy
0:24:50 > 0:24:54which cheated sellers in the US out of nearly £300 million.
0:24:54 > 0:24:5820 years ago, a different management team had made a terrible error
0:24:58 > 0:25:00and looked at the sellers' commissions
0:25:00 > 0:25:03that were being charged to people selling
0:25:03 > 0:25:08and tried to fix the fees that people would be paying
0:25:08 > 0:25:10for the sale of a particular object.
0:25:10 > 0:25:12Fortunately that's all behind us.
0:25:12 > 0:25:14It wasn't a great moment for the art world in general,
0:25:14 > 0:25:17certainly not... Nothing that we're proud of.
0:25:17 > 0:25:20CLOCK CHIRPS
0:25:22 > 0:25:25With the classics not doing so well, Christie's have come up with
0:25:25 > 0:25:28a new strategy for pre-20th-century items -
0:25:28 > 0:25:31The Exceptional Sale.
0:25:31 > 0:25:35A veritable best of the best to seduce rich collectors of
0:25:35 > 0:25:39sculpture, furniture, glass, clocks, Chinese jade, and Russian gold.
0:25:42 > 0:25:45- It's magnificent.- INTERVIEWER: Are you thinking of buying it?
0:25:45 > 0:25:47- No.- Why not?
0:25:47 > 0:25:51Well, I don't think I have a couple of million to spare.
0:25:53 > 0:25:55There are just 36 lots,
0:25:55 > 0:25:58and Christie's sculpture specialist is particularly pleased
0:25:58 > 0:26:01that one of the collectors he's made it his business to cultivate
0:26:01 > 0:26:05has been persuaded to part with a real gem -
0:26:05 > 0:26:07once Christie's had put together its history.
0:26:07 > 0:26:13In here is the most exciting sculpture of the week for us.
0:26:13 > 0:26:16It is a life-size model figure of Andromeda
0:26:16 > 0:26:19just before she is saved by Perseus.
0:26:21 > 0:26:22This is particularly exciting
0:26:22 > 0:26:25because it was a very famous Ciriaco Mattei,
0:26:25 > 0:26:28who was a Roman nobleman, commissioned this in the 1580s
0:26:28 > 0:26:30for his garden in Rome.
0:26:30 > 0:26:32In the 1750s, she disappears
0:26:32 > 0:26:36and shows up very briefly in an auction in 1987.
0:26:36 > 0:26:38The present owner bought her then,
0:26:38 > 0:26:40put her in packing blankets and wrapped her up
0:26:40 > 0:26:43and put her in a castle in upstate New York.
0:26:43 > 0:26:45And there she has remained ever since.
0:26:45 > 0:26:49MUSIC: La Noyee by Yann Tiersen
0:26:49 > 0:26:52The sellers of Andromeda have stored her for decades
0:26:52 > 0:26:54in their tower upstate.
0:26:54 > 0:26:58But they live and work behind these doors in the Lower East Side.
0:26:58 > 0:27:01- I thought that was in there. - No, evidently not.
0:27:01 > 0:27:03I have to check the proposal.
0:27:03 > 0:27:0783-year-old Maurice Margules and his partner Antonie Reinhard
0:27:07 > 0:27:10run what is nominally an antique store...
0:27:10 > 0:27:12but it rarely opens
0:27:12 > 0:27:15and the owners seem to have little interest in selling anything.
0:27:18 > 0:27:24This place...it's akin to Tombstone, Arizona.
0:27:24 > 0:27:26That was the town too tough to die.
0:27:28 > 0:27:32This place, we don't even know why it's still here. Nobody gets it.
0:27:32 > 0:27:37We're the worst people in the world to sell you the greatest things.
0:27:46 > 0:27:48I thought your job was to sell art.
0:27:48 > 0:27:50Yeah, but what is art?
0:27:51 > 0:27:54What is it? Somebody tells you this is art?
0:27:54 > 0:27:57Somebody tells you, "Well, this is by Picasso."
0:27:57 > 0:27:58Therefore, it's art?
0:27:59 > 0:28:01Nuh-uh.
0:28:01 > 0:28:03I realised that almost everything we buy
0:28:03 > 0:28:07there's a small chance you sell it in one day,
0:28:07 > 0:28:09but generally, it'll be 10, 20 years.
0:28:09 > 0:28:13Emotionally, that's not easy for her because...
0:28:13 > 0:28:16why is it just sitting here not doing anything?
0:28:16 > 0:28:19And I can always say, "It's not it's time now."
0:28:19 > 0:28:23- I didn't mind it with Andromeda. - Well...
0:28:34 > 0:28:36She's a piece of ass.
0:28:38 > 0:28:41- Let's face it.- Oh, come on! - Come on, let's face it.
0:28:41 > 0:28:45That is the most sensuous statue I really ever seen.
0:28:45 > 0:28:51From every... Well, every aspect of it.
0:28:51 > 0:28:53Miraculously or not, all of her clothes have disappeared
0:28:53 > 0:28:56when she's got chained up to a rock.
0:28:56 > 0:28:59You've got these fantastic tendrils coming down her neck.
0:28:59 > 0:29:02The chain, obviously, is incredibly sexy.
0:29:03 > 0:29:05Basically, she's in almost perfect condition,
0:29:05 > 0:29:08which is... I mean, she's 450 years old,
0:29:08 > 0:29:11so if we can look so good at her age.
0:29:11 > 0:29:16I was the only one who at least had a desire to get her. 30 years ago.
0:29:17 > 0:29:18I don't own her.
0:29:21 > 0:29:23She might have owned me.
0:29:23 > 0:29:26She was in, what you call, like, a sleeping beauty.
0:29:26 > 0:29:28She had to wait till the right prince
0:29:28 > 0:29:31was going to plant a nice little kiss on her.
0:29:31 > 0:29:33We'll see tomorrow.
0:29:42 > 0:29:45Maurice has put Andromeda up for sale
0:29:45 > 0:29:48to pay for the upkeep of their storage tower
0:29:48 > 0:29:52but he hasn't come to the auction, as he can't bear to say goodbye.
0:29:52 > 0:29:53Here it is, then, at 450.
0:29:53 > 0:29:55480 is bid.
0:29:56 > 0:29:59- One more?- Yes, sir.
0:29:59 > 0:30:00500,000.
0:30:00 > 0:30:03Will, would you like 550?
0:30:03 > 0:30:05- 520.- Yes, of course, 520,000.
0:30:05 > 0:30:07Can you take 540?
0:30:07 > 0:30:10There it is, 540.
0:30:10 > 0:30:12- 550.- Ah, 550.
0:30:12 > 0:30:13Do you want to have a go?
0:30:13 > 0:30:17And selling against you here at 550,000.
0:30:17 > 0:30:20Will has it and I'm selling it.
0:30:20 > 0:30:22- Fair warning.- You're out.
0:30:22 > 0:30:23OK.
0:30:24 > 0:30:26Sold at 550.
0:30:34 > 0:30:38So where is Andromeda now heading?
0:30:38 > 0:30:41Actually, that's a difficult question to get an answer to.
0:30:41 > 0:30:44Andromeda has a new home.
0:30:44 > 0:30:46- INTERVIEWER:- With whom?
0:30:46 > 0:30:51We'll have to see if the buyer will make that public.
0:30:52 > 0:30:54Maybe we'll see her again, maybe we won't.
0:30:56 > 0:30:57- INTERVIEWER:- You know she's chained to a rock
0:30:57 > 0:30:59so what are you about to do?
0:30:59 > 0:31:01We're going to free her!
0:31:10 > 0:31:13The Exceptional Sale did exceptionally well,
0:31:13 > 0:31:15which is good news for Jussi and the team
0:31:15 > 0:31:17who have to report back to their ultimate boss,
0:31:17 > 0:31:21chief executive Patricia Barbizet.
0:31:21 > 0:31:22She's the right-hand woman
0:31:22 > 0:31:25of the man who bought Christie's 20 years ago,
0:31:25 > 0:31:27the art loving French billionaire Francois Pinault.
0:31:29 > 0:31:32Most weeks find her later calling in at the London HQ,
0:31:32 > 0:31:36but she's not an art expert, her background's finance.
0:31:36 > 0:31:38I was already with the Pinault group
0:31:38 > 0:31:40and when we acquired Christie's,
0:31:40 > 0:31:42I was actually the one who signed the cheque.
0:31:42 > 0:31:45It was for, what I remember, £700 million.
0:31:45 > 0:31:48- INTERVIEWER:- Is the cheque you signed?- Oui.
0:31:48 > 0:31:51- And is worth a little bit more now? - I'm sure it is.
0:31:51 > 0:31:54A lot more now! And even a lot more in the future.
0:31:55 > 0:31:59But is that value now going to essentially a French company?
0:31:59 > 0:32:02Is Christie's no longer a British brand?
0:32:02 > 0:32:05British company, British roots,
0:32:05 > 0:32:10worldwide company, British headquarters still,
0:32:10 > 0:32:14global presence all over the world - 50 countries.
0:32:14 > 0:32:20'So it's a very, very English, British-rooted company.
0:32:20 > 0:32:24'But in the company we have so many different people
0:32:24 > 0:32:27'coming from everywhere.'
0:32:27 > 0:32:30So it's a truly international company.
0:32:30 > 0:32:32Patricia Barbizet is building the empire
0:32:32 > 0:32:34and the troops know what they have to do.
0:32:34 > 0:32:38Her number one objective is to get as many buyers as possible.
0:32:38 > 0:32:39What that means is that you are
0:32:39 > 0:32:42looking at the global world,
0:32:42 > 0:32:46saying that art has become an asset
0:32:46 > 0:32:51and attempting to coax 7.2 billion people
0:32:51 > 0:32:55to build collections of art.
0:32:58 > 0:33:02It's unlikely the whole world's population is going to collect art
0:33:02 > 0:33:04but on Tuesday night in South Kensington,
0:33:04 > 0:33:08Christie's use their smaller sale rooms to entice, they hope,
0:33:08 > 0:33:10the next generation.
0:33:10 > 0:33:11In, of course, a very Christie's way,
0:33:11 > 0:33:15over a glass of wine and strawberries and cream.
0:33:15 > 0:33:18The majority of people coming through the door
0:33:18 > 0:33:21it's their first time at Christie's,
0:33:21 > 0:33:23so it's a real discovery for them.
0:33:23 > 0:33:25We sell things here at Christie's South Ken
0:33:25 > 0:33:27from as little as £1,000 upwards.
0:33:28 > 0:33:31I think there's a perception from people outside,
0:33:31 > 0:33:34"Christie's is too posh to shop."
0:33:34 > 0:33:37You know, "It's exclusive, it's not for me."
0:33:37 > 0:33:40- How much?- £46,000. - A mere snip.
0:33:40 > 0:33:43Yeah, no, it's not too bad, now that you've mentioned it.
0:33:43 > 0:33:46I'm interested in art. I don't know a lot about it
0:33:46 > 0:33:49so I like coming here because they have the talks as well,
0:33:49 > 0:33:50so I can try and educate myself a bit.
0:33:50 > 0:33:53I've bought a few things on eBay in the past
0:33:53 > 0:33:56but this is the first time I've actually come pre-auction.
0:33:56 > 0:33:59There's amazing pieces.
0:33:59 > 0:34:01I would definitely spend money on art.
0:34:01 > 0:34:04I think it mirrors a lifestyle, who you are.
0:34:04 > 0:34:08I want to have something that represents me in my household.
0:34:08 > 0:34:10You can really see some interesting pieces.
0:34:10 > 0:34:11The Lucian Freud portrait.
0:34:11 > 0:34:15I always like the sketchy side of artists' unfinished works.
0:34:15 > 0:34:19- INTERVIEWER:- Might you come back and bid for it?- One day. I'm...
0:34:19 > 0:34:22Just got to improve the bank balance.
0:34:22 > 0:34:24The young people today will be, potentially,
0:34:24 > 0:34:28the wealthy people in the future so if you target us at our age now
0:34:28 > 0:34:29and we fall in love at this age
0:34:29 > 0:34:32then subsequently we will be those people
0:34:32 > 0:34:34who will go on to buy that art.
0:34:34 > 0:34:36So catch them while they're young.
0:34:36 > 0:34:38- INTERVIEWER:- Have you been caught? - We're going to find out.
0:34:38 > 0:34:40I'll tell you in 20 years!
0:34:45 > 0:34:48A month after the mixed results of Classic Week,
0:34:48 > 0:34:51Christie's are back in New York.
0:34:51 > 0:34:56This time it's the rich buyers of contemporary art that they're after.
0:34:56 > 0:34:59To create a buzz in this increasingly lucrative field,
0:34:59 > 0:35:02they've come up with a bold, even risky concept -
0:35:02 > 0:35:05the brainchild of their star signing from Sotheby's, Loic Gouzer.
0:35:07 > 0:35:11I came to the board and I introduced this idea and they said,
0:35:11 > 0:35:14"What's the title of your sale?" And I said, "Bound To Fail."
0:35:14 > 0:35:17That was not a... It's not an easy sell.
0:35:21 > 0:35:24Loic Gouzer is a genius who looks at the art market
0:35:24 > 0:35:25in a very particular way.
0:35:25 > 0:35:27What he's done is he's put together
0:35:27 > 0:35:30a group of really challenging works of art
0:35:30 > 0:35:32that are all chosen on the basis
0:35:32 > 0:35:34that at the time they were executed,
0:35:34 > 0:35:36they were so avant-garde
0:35:36 > 0:35:40that people slightly found them absurd.
0:35:40 > 0:35:42So they sailed very close to the wind
0:35:42 > 0:35:45in terms of what people thought was good art and bad.
0:35:45 > 0:35:48The art is something that is...
0:35:48 > 0:35:52That by definition generates discussion and people collect art
0:35:52 > 0:35:55to talk about it, to... It's something that opens your mind.
0:35:55 > 0:35:58Of course there's financial discussions with the client,
0:35:58 > 0:36:01but a lot of it is artistic.
0:36:01 > 0:36:02If I call a client,
0:36:02 > 0:36:05sometimes I'm going to discuss in ten minutes the deal
0:36:05 > 0:36:10and then we're going to talk about other artists for another two hours.
0:36:10 > 0:36:14This basketball tank is something that became almost iconic
0:36:14 > 0:36:16the second it was made in '85.
0:36:16 > 0:36:19You see this ball which is floating like by magic,
0:36:19 > 0:36:21although it's science.
0:36:21 > 0:36:23It's physical but it's also conceptual.
0:36:23 > 0:36:26Damien Hirst - what he did with his sharks and all that
0:36:26 > 0:36:27comes straight from that.
0:36:27 > 0:36:29This had a huge influence.
0:36:33 > 0:36:36In a market where antiquities can be had at bargain prices,
0:36:36 > 0:36:40how do you put a figure on a work featuring potatoes?
0:36:43 > 0:36:47The bigger question for Loic is has he guessed right for the market?
0:36:48 > 0:36:52So we move to the Jeff Koons. Lot 21, The Equilibrium Tank.
0:36:52 > 0:36:5411 million with Loic.
0:36:54 > 0:36:5612 million.
0:36:56 > 0:36:5713 million is yours.
0:36:57 > 0:37:00At 13 million and selling to Loic. Once again.
0:37:00 > 0:37:02INAUDIBLE
0:37:02 > 0:37:05Of course, 13,500,000. Sold to you.
0:37:05 > 0:37:06They're works of art where the artists
0:37:06 > 0:37:08are really challenging conformism,
0:37:08 > 0:37:12like Kippenberger behind me here, the crucifixion piece.
0:37:12 > 0:37:16These are tough subjects and subjects which perhaps at the time
0:37:16 > 0:37:18would have caused a great stir.
0:37:18 > 0:37:21The Kippenberger - the Pope actually denounced as being sacrilegious
0:37:21 > 0:37:23and here it is in a sale in New York
0:37:23 > 0:37:26making a record for the artist for a sculpture.
0:37:26 > 0:37:281,100,000.
0:37:31 > 0:37:34These works were produced in the last 20 to 30 years
0:37:34 > 0:37:37and many of them are symbolic of particular moments in time.
0:37:37 > 0:37:40Whether it be HIM by Cattelan, the small Adolf Hitler,
0:37:40 > 0:37:42which was just a sensational work of art.
0:37:42 > 0:37:45And we can open the bidding here at 8,800,000.
0:37:45 > 0:37:48'Times change and tastes change but the one thing that's interesting
0:37:48 > 0:37:51'about artists is that their responsibility'
0:37:51 > 0:37:55is to create challenging, innovative works of art
0:37:55 > 0:37:57and our job is to sell them.
0:37:57 > 0:38:0014,800,000.
0:38:01 > 0:38:0215 million.
0:38:02 > 0:38:0415,200,000.
0:38:06 > 0:38:0915,200,000.
0:38:09 > 0:38:12You have it. 15.2. 1576.
0:38:16 > 0:38:20Interestingly, the only piece that didn't sell was the potatoes.
0:38:20 > 0:38:24Christie's are now hoping that this much talked about evening
0:38:24 > 0:38:28will boost the 20th Century Week's main sales that follow
0:38:28 > 0:38:32and they have a star centrepiece by an artist of the 1980s, Basquiat,
0:38:32 > 0:38:35whose work also raised the question at the time,
0:38:35 > 0:38:37is this really art?
0:38:38 > 0:38:4230 years on, the question now is how much will it go for?
0:38:42 > 0:38:45Post-war and contemporary art now accounts for one third of
0:38:45 > 0:38:49Christie's sales, so the next few days are crucial.
0:38:49 > 0:38:51This will be showtime.
0:38:51 > 0:38:54This is when really the great collectors of the world
0:38:54 > 0:38:57convene in one place and it really is the barometer of the whole
0:38:57 > 0:38:59of the art world for the year.
0:38:59 > 0:39:01The May sales in New York are quintessentially what people
0:39:01 > 0:39:05hold on to and say, "Is the market healthy or not?"
0:39:06 > 0:39:08But there's a problem for them.
0:39:08 > 0:39:11When Sotheby's across town held their Impressionist and Modern
0:39:11 > 0:39:16sale last night, it did badly, with a third of pieces going unsold.
0:39:17 > 0:39:20The overall reporting in the paper
0:39:20 > 0:39:23was that the sale was 66% sold
0:39:23 > 0:39:26and that immediately sent shivers
0:39:26 > 0:39:27into the marketplace.
0:39:27 > 0:39:29If you take away that confidence,
0:39:29 > 0:39:32no-one wants to be the last man or last woman standing.
0:39:32 > 0:39:35A large part of what we did this morning
0:39:35 > 0:39:37was to try and get back into the minds of the collectors
0:39:37 > 0:39:40how important these individual objects are.
0:39:41 > 0:39:43SHE SPEAKS OWN LANGUAGE
0:39:43 > 0:39:47- She's really grateful for your introduction.- Oh, thank you.
0:39:47 > 0:39:49Rumoured to have the personal numbers
0:39:49 > 0:39:52of 200 of the world's top collectors on his phone,
0:39:52 > 0:39:55Brett Gorvy's job today is to work his connections
0:39:55 > 0:39:57to ensure they keep buying.
0:39:57 > 0:40:00He has high hopes for Wang Wei,
0:40:00 > 0:40:04whose husband bought the famous Modigliani Reclining Nude
0:40:04 > 0:40:08at Christie's New York last year for 170 million.
0:40:10 > 0:40:13This is Richard Prince, one of the Cowboy pieces.
0:40:13 > 0:40:15TRANSLATION:
0:40:27 > 0:40:29The art is a fantastic language.
0:40:29 > 0:40:32You can break through many different barriers
0:40:32 > 0:40:33on the basis of a great work of art.
0:40:33 > 0:40:36You don't have to speak the same language as the client,
0:40:36 > 0:40:38but the painting speaks the same language.
0:40:38 > 0:40:40When I stand in front of a painting,
0:40:40 > 0:40:42I immediately understand its commercial value
0:40:42 > 0:40:44as much as its art historical value.
0:40:44 > 0:40:47Then what comes in my mind is a whole list of potential buyers
0:40:47 > 0:40:48for that work.
0:40:52 > 0:40:57But to hook the big buyers, you need to get your hands on the art
0:40:57 > 0:41:00and for that, Christie's go far and wide.
0:41:00 > 0:41:03Seven years ago, they got wind of three sisters from the Midwest
0:41:03 > 0:41:07who were left an Alexander Calder mobile by their uncle.
0:41:08 > 0:41:11He became a friend of Alexander Calder
0:41:11 > 0:41:15and he didn't have children, so we inherited his art collection.
0:41:16 > 0:41:19- INTERVIEWER:- How wonderful. - Very wonderful!
0:41:20 > 0:41:23Where should I open this? At 1 million.
0:41:23 > 0:41:26There's an art adviser who works in the Midwest
0:41:26 > 0:41:29who I'm fairly close with and she happened upon these sisters.
0:41:29 > 0:41:32When you're working in the Midwest as an art appraiser,
0:41:32 > 0:41:34you bump into some pretty wild things.
0:41:34 > 0:41:37Slowly over time, we developed a relationship together
0:41:37 > 0:41:41with the sisters, and you can become a bit of an adviser.
0:41:41 > 0:41:44So over the last seven years, I have been just that.
0:41:44 > 0:41:471.2 million. 1,200,000...
0:41:47 > 0:41:50He would come to our house and appraise and then reappraise.
0:41:50 > 0:41:52We've had current appraisals each year.
0:41:52 > 0:41:55"Do you think it's time? Should we sell now?"
0:41:55 > 0:41:59He said, "Yes," and we trust Jonathan.
0:41:59 > 0:42:001.5 million.
0:42:00 > 0:42:02But this means a lot to us.
0:42:02 > 0:42:06This is our children's college fund and our retirement.
0:42:06 > 0:42:10We're not playing here. This is real for us.
0:42:10 > 0:42:121.7 million right up front here.
0:42:12 > 0:42:15With the estimate at 1.5 to 2 million,
0:42:15 > 0:42:18the sisters are on tenterhooks.
0:42:18 > 0:42:211.8 million is here, then. Anybody else now?
0:42:21 > 0:42:221,850,000.
0:42:22 > 0:42:251,850,000, I'll take that, thank you, is in.
0:42:25 > 0:42:281.9 million's in.
0:42:28 > 0:42:30Sold at 1,900,000.
0:42:30 > 0:42:34We're satisfied. We're pleased. It sold at the high end of the range.
0:42:34 > 0:42:37We want to go down and see Leonardo DiCaprio.
0:42:37 > 0:42:39- INTERVIEWER:- Is he here? - Yeah!- Yes!
0:42:39 > 0:42:42Up in a booth, so we want to go see him outside.
0:42:43 > 0:42:48Getting the Calder to the point of sale took Christie's seven years.
0:42:48 > 0:42:51But sometimes getting someone to buy takes just seconds.
0:42:51 > 0:42:55This Chinese businessman arrived, spotted this Yves Klein Blue
0:42:55 > 0:42:59in the auction room and suddenly thought, "Why not?"
0:42:59 > 0:43:04It's Yves Klein. All done. Selling here at 2,800,000.
0:43:04 > 0:43:06You have it, sir. Do you have a number?
0:43:06 > 0:43:09I just came here to observe but, you know,
0:43:09 > 0:43:12- it's not a plan to buy this one. - INTERVIEWER:- Really?
0:43:12 > 0:43:16- Yeah.- He just arrived from Hong Kong.- Uh-huh.
0:43:16 > 0:43:18Like, one hour ago.
0:43:18 > 0:43:22So he was rushing to the Christie's auction room.
0:43:22 > 0:43:27The colour is very distinguished, and also very simple.
0:43:27 > 0:43:29Most of the art, they have different colours.
0:43:29 > 0:43:32This one, nothing else.
0:43:32 > 0:43:36It's just as simple as you can imagine. It's so pure.
0:43:36 > 0:43:39It's like a diamond in the middle of the ocean.
0:43:41 > 0:43:44Having never seen the Yves Klein Blue close up,
0:43:44 > 0:43:47Mr Zeng now wants to see the work he spontaneously dropped around
0:43:47 > 0:43:503 million on, but where is it?
0:43:50 > 0:43:53- The Yves Klein. - The blue...in the middle.
0:43:53 > 0:43:56- It's back in gallery one. - It's still there?
0:43:56 > 0:43:58- It was put back. - It was on the stage.
0:43:58 > 0:44:00Yes, it's back in gallery one.
0:44:00 > 0:44:01- Wow!- Wow.
0:44:04 > 0:44:08I am not a professional collector. It is my first time.
0:44:08 > 0:44:12I knew Christie's when I became a student in New York
0:44:12 > 0:44:13about 20 years ago.
0:44:13 > 0:44:17My job was try to deliver some art for...
0:44:17 > 0:44:20- They gave me one dollar... - Deliver charge.- ..tips.
0:44:20 > 0:44:23The whole of my life - the first tips in my life.
0:44:23 > 0:44:27So this time I came here to try to understand more.
0:44:27 > 0:44:31In the future, we're thinking about setting up an art fund.
0:44:31 > 0:44:34This is only testing the water, yeah.
0:44:34 > 0:44:361,800,000. 2 million.
0:44:36 > 0:44:402,200,000 already. At 2,200,000...
0:44:40 > 0:44:43Christie's, over the last three years, has probably done more
0:44:43 > 0:44:49than anyone else to push the upper limits of what a work of art
0:44:49 > 0:44:53can achieve in terms of price and in terms of recognition.
0:44:53 > 0:44:57People who are entering come because they see big prices,
0:44:57 > 0:45:00they see all of this hoopla taking place
0:45:00 > 0:45:02and they want to be a part of it.
0:45:02 > 0:45:06And we see a lot of new buyers from around the world
0:45:06 > 0:45:09who may have made fortunes in recent years
0:45:09 > 0:45:13wanting to enter not at the bottom and work their way up
0:45:13 > 0:45:16but come in straight at the top of the market.
0:45:16 > 0:45:20Works over 10 million accounted for almost 30% of the total value
0:45:20 > 0:45:23of Christie's sales in 2015.
0:45:24 > 0:45:26In New York, they build special hidden boxes
0:45:26 > 0:45:30for high rollers who want to watch the action but not be seen,
0:45:30 > 0:45:33and this is the piece that Christie's think
0:45:33 > 0:45:37they will definitely want to buy - the massive painting
0:45:37 > 0:45:41by the Haitian-American artist Jean-Michel Basquiat,
0:45:41 > 0:45:45who died in the late '80s of a heroin overdose, aged 27.
0:45:45 > 0:45:49We're very conscious of who owns which particular masterpieces.
0:45:49 > 0:45:51So given that the market is very strong for a particular artist
0:45:51 > 0:45:54or particular work, we will go to collectors
0:45:54 > 0:45:58that have works that we know are going to capture the moment
0:45:58 > 0:46:01and going to capture the appetites of our top buyers,
0:46:01 > 0:46:04and clearly, Basquiat, at the moment, is one of those.
0:46:04 > 0:46:08I've been approached by every punter, every auction house,
0:46:08 > 0:46:11every auction executive, every dealer, every private dealer,
0:46:11 > 0:46:13of course I have.
0:46:13 > 0:46:15I go to the person that I trust, the person I think
0:46:15 > 0:46:18is going to do a good job for that property.
0:46:18 > 0:46:21Brett's super professional, and he delivered
0:46:21 > 0:46:23the last Basquiat record as well.
0:46:23 > 0:46:26So you go back to the watering hole where...
0:46:26 > 0:46:29Like, they've already proven that they can do it.
0:46:29 > 0:46:34It does have a huge estimate on it. It has a 40 million estimate on it.
0:46:34 > 0:46:37The reason that this Basquiat is estimated so high
0:46:37 > 0:46:40is that there is a precedent.
0:46:40 > 0:46:45A couple years ago, another Basquiat sold for 48.8 million.
0:46:45 > 0:46:48However, the problem is that this was bought by
0:46:48 > 0:46:52a pudgy financier from Malaysia called Jho Low.
0:46:52 > 0:46:55He was sitting in a light box, apparently with a takeaway pizza
0:46:55 > 0:46:58and a bottle of vintage wine and a lot of his friends,
0:46:58 > 0:47:00and he was bidding like crazy.
0:47:00 > 0:47:05It's conceivable that that price was what you might call an outlier.
0:47:05 > 0:47:09Shall we see that sort of price again? I don't know.
0:47:09 > 0:47:11Possibly not.
0:47:11 > 0:47:14So we move to the Basquiat of 1982.
0:47:14 > 0:47:18Where shall we open this? At 32 million. 32 million.
0:47:18 > 0:47:21Brett Gorvy, on the phone, encourages his client
0:47:21 > 0:47:23to bid as high as they can.
0:47:23 > 0:47:2443 million.
0:47:24 > 0:47:27Back to Brett at 43.
0:47:27 > 0:47:31It is about being their partner and trying to tell them
0:47:31 > 0:47:34what's going on in the room, but at the same time, you know
0:47:34 > 0:47:36that there's a point where they are going to break.
0:47:36 > 0:47:39They're going to lose focus, they're going to lose confidence
0:47:39 > 0:47:42in what they're doing, and I often say one thing to them, which is,
0:47:42 > 0:47:46"It's the next morning, you wake up, you don't own the painting.
0:47:46 > 0:47:47"How much does that hurt?"
0:47:47 > 0:47:51Because that is going to be your cue as to how much you're going to pay.
0:47:51 > 0:47:5344 million.
0:47:53 > 0:47:55No hesitation.
0:47:55 > 0:47:58- Brett, what would you like? - Five.- 45 million.
0:47:58 > 0:48:02Many collectors, when you talk to them, they have two collections.
0:48:02 > 0:48:05They have the collections on the walls and they have the collections
0:48:05 > 0:48:07which are deep in their brains which hurt so much
0:48:07 > 0:48:09because those are the paintings that got away.
0:48:10 > 0:48:1348 million.
0:48:13 > 0:48:14At 48 million.
0:48:16 > 0:48:19- Fair warning, Brett.- Another half.
0:48:19 > 0:48:2248.5. 49.
0:48:22 > 0:48:27Brett? 49 is the bid on my left for the Basquiat.
0:48:27 > 0:48:29- 50.- 50 million! - CHEERING
0:48:29 > 0:48:3150 million is bid.
0:48:31 > 0:48:35Will that do it? 50 million.
0:48:35 > 0:48:38- At 50 million with Brett Gorvy. - 51.
0:48:38 > 0:48:4051 million.
0:48:40 > 0:48:43Brett, at 51 million.
0:48:53 > 0:48:56You have it at 51 million. Congratulations!
0:48:57 > 0:49:01With buyer's premium, the mystery Japanese bidder
0:49:01 > 0:49:05is paying 57.285 million.
0:49:05 > 0:49:08A new world-record for a Basquiat.
0:49:08 > 0:49:12But the seller, who just made 45 million profit,
0:49:12 > 0:49:14doesn't seem to be carried away.
0:49:15 > 0:49:19Now it's been, like, broadly embraced by the overall world
0:49:19 > 0:49:21that art is an investment.
0:49:21 > 0:49:26It's an investment but, you know, might not be a good investment.
0:49:26 > 0:49:28I mean, the world is very fickle.
0:49:28 > 0:49:31Things come in and out of fashion, prices go up and down.
0:49:31 > 0:49:33I mean, nobody needs art.
0:49:33 > 0:49:38You know, it's not real estate, it's not manufacturing.
0:49:38 > 0:49:41I mean, art is this intangible thing. What is art worth?
0:49:41 > 0:49:43Who knows?
0:49:43 > 0:49:46At the end of the Basquiat sale, Brett Gorvy's client lost out,
0:49:46 > 0:49:50but for Brett, this is a new opportunity -
0:49:50 > 0:49:54he still has a client with 50 million.
0:49:54 > 0:49:57The bidder was there at the 50-plus million mark on a Basquiat.
0:49:57 > 0:49:59So how do we now service that client?
0:49:59 > 0:50:03What else can you supply for him while he's got the money
0:50:03 > 0:50:06burning in his pocket, but also while his heart is so focused?
0:50:06 > 0:50:11So what you're able to do is really take advantage of that moment.
0:50:11 > 0:50:14The same things with sellers - you've just made 50 million,
0:50:14 > 0:50:16maybe it's time you should be buying again.
0:50:19 > 0:50:21Perhaps in the final big sale of the week
0:50:21 > 0:50:23of Impressionist and Modern art,
0:50:23 > 0:50:26traditionally a bestseller for Christie's,
0:50:26 > 0:50:29and clients who have shown a willingness to buy on a whim
0:50:29 > 0:50:32are, of course, also to be encouraged.
0:50:32 > 0:50:34One of Brett's colleagues, Giovanna Bertazzoni,
0:50:34 > 0:50:37is showing paintings to Mr Zeng which are a step up
0:50:37 > 0:50:42from the mere 3.3 million that he spent on the Klein last night.
0:50:42 > 0:50:46The price range is between 25 and 35 million.
0:50:46 > 0:50:50Do you think this is going to auction in New York or London?
0:50:50 > 0:50:53- This is coming up tomorrow night, OK?- That's fine.
0:50:53 > 0:50:57So if we want to think about...
0:50:57 > 0:51:02think about it, we have to discuss today on how we make it happen.
0:51:02 > 0:51:04It's exactly the right estimate
0:51:04 > 0:51:07and it's a good way to start,
0:51:07 > 0:51:11- and it will look good with your Klein.- Klein.
0:51:11 > 0:51:13Indeed, at 25 to 35 million,
0:51:13 > 0:51:16where better to start one's Impressionist collection?
0:51:16 > 0:51:17France was still at war...
0:51:17 > 0:51:21Christie's function is to establish prices,
0:51:21 > 0:51:27to show trends, to be able to give buyers and sellers confidence
0:51:27 > 0:51:33that something they buy today will have value tomorrow and next year,
0:51:33 > 0:51:35five years and ten years from now.
0:51:35 > 0:51:39The estimate is very, very inviting.
0:51:39 > 0:51:44- It's 12 to 18 million.- Wow. - Which is...- Much, much cheaper.
0:51:56 > 0:51:59Christie's have been taking soundings for tonight's sale,
0:51:59 > 0:52:02and they're worried that potential buyers aren't coming forward,
0:52:02 > 0:52:05so Giovanna has been hitting the phones to consignors to encourage
0:52:05 > 0:52:08them to be more realistic.
0:52:08 > 0:52:11A beautiful Monet at 8 million to start with.
0:52:11 > 0:52:14We really worked hard on reserves and making sure that
0:52:14 > 0:52:17we continue our responsibility towards selling well and selling...
0:52:17 > 0:52:19Selling!
0:52:19 > 0:52:23We advised sellers to reconsider the reserves.
0:52:23 > 0:52:26The question tonight is whether it's going to be enough.
0:52:26 > 0:52:2810 million.
0:52:31 > 0:52:33Your bidder, 10 million.
0:52:39 > 0:52:4310.5 million is mine. 11 is yours, sir.
0:52:43 > 0:52:4511,250,000.
0:52:45 > 0:52:47Thank you, sir.
0:52:47 > 0:52:50Many are not reaching the low estimate.
0:52:51 > 0:52:546 million. 6,500,000 now.
0:52:54 > 0:52:577 million. Sold to you, sir. Thank you.
0:53:02 > 0:53:04And we start...
0:53:04 > 0:53:06Mr Zeng hasn't come to the auction, and the competition
0:53:06 > 0:53:09for the Monet Water Lilies that Giovanna tried to interest him in
0:53:09 > 0:53:11also isn't strong.
0:53:11 > 0:53:13At 24 million.
0:53:13 > 0:53:17And selling to you, sir, at 24 million.
0:53:17 > 0:53:19Thank you, sir.
0:53:19 > 0:53:20Paddle number 342.
0:53:22 > 0:53:24I bought a Monet Water Lilies here
0:53:24 > 0:53:27about five years ago, and I paid 39 million for it,
0:53:27 > 0:53:30and that was... That's equally as good as that.
0:53:30 > 0:53:32It was very quiet in there tonight,
0:53:32 > 0:53:35and it was the right place at the right time.
0:53:35 > 0:53:38So the great New York week has ended on a bit of a disappointment
0:53:38 > 0:53:43with a sale that's a whopping 30% down by value on last year's.
0:53:43 > 0:53:46The great household names that Christie's have relied on -
0:53:46 > 0:53:50Picasso, Monet - are not selling like they used to.
0:53:51 > 0:53:55And among those here this week was an Englishman who came to sell
0:53:55 > 0:53:58a Modigliani drawing and left with an even lower opinion
0:53:58 > 0:54:00of what's happening in the art market.
0:54:02 > 0:54:06I'm selling the drawing, which I've had for 15 years,
0:54:06 > 0:54:12because I think the prices of the artist in question
0:54:12 > 0:54:15have gone absurdly high
0:54:15 > 0:54:21and I feel unhappy about earning something at that value,
0:54:21 > 0:54:22and if it fetches a good price,
0:54:22 > 0:54:25one or other of my charities will do very nicely.
0:54:25 > 0:54:29Lot 1,008 is the wonderful Modigliani.
0:54:29 > 0:54:32They're bits of paper or bits of canvas.
0:54:32 > 0:54:37They have no "intrinsic" value, and it's all emotion.
0:54:37 > 0:54:40320,000.
0:54:40 > 0:54:43But here, of course, in New York, where there are only five things
0:54:43 > 0:54:46that matter - money, money, money, money
0:54:46 > 0:54:49and the greed to make more money than you need -
0:54:49 > 0:54:52you have the investors.
0:54:53 > 0:54:56- 1 million.- 1.1.
0:54:56 > 0:54:591,100,000.
0:54:59 > 0:55:04If you've got, you know, 3 billion burning a hole in your pocket,
0:55:04 > 0:55:08you will have your forestry, you will have the real estate,
0:55:08 > 0:55:15you'll have your horses, and the new category of investment is art.
0:55:16 > 0:55:19- Bidding...- 1,200,000.
0:55:19 > 0:55:221,250,000.
0:55:22 > 0:55:25- 1,300,000.- 1,300,000 is bid.
0:55:25 > 0:55:28- INTERVIEWER:- What do you think that does morally to art?
0:55:28 > 0:55:29It prostitutes it.
0:55:29 > 0:55:32It takes it right down to the gutter.
0:55:32 > 0:55:351,300,000. Last call.
0:55:35 > 0:55:37Christie's have achieved a top price,
0:55:37 > 0:55:40over twice the estimate for their client,
0:55:40 > 0:55:41but he remains contemptuous.
0:55:45 > 0:55:47There are always those people
0:55:47 > 0:55:51who've got, I might say, more money than sense.
0:55:51 > 0:55:54- Montigliani, yes. - INTERVIEWER:- Do you like it?
0:55:54 > 0:55:55Yeah, it's a nice painting. It's beautiful.
0:55:55 > 0:55:57What do you think of the price?
0:55:57 > 0:56:00- Price... - HE GASPS
0:56:00 > 0:56:03Art handlers Basilio and James may not have the money,
0:56:03 > 0:56:06but they get physically closer to more great art
0:56:06 > 0:56:08than most collectors ever dream of.
0:56:10 > 0:56:12It tells you to be calm.
0:56:12 > 0:56:15You know, sit in your house and just...
0:56:15 > 0:56:19You know, glass of wine and just think of being there.
0:56:19 > 0:56:22I mean, who wouldn't want to be there?
0:56:22 > 0:56:25You know. You don't see that in New York.
0:56:25 > 0:56:27To some people, that's nothing.
0:56:27 > 0:56:29To me and other people, it's one of those...
0:56:29 > 0:56:31HE GASPS
0:56:31 > 0:56:33You know. That's what that is.
0:56:33 > 0:56:35- INTERVIEWER: - So what do you think of this one?
0:56:35 > 0:56:40- I like this one. Picasso. - You like it?- Yeah. It's nice.
0:56:40 > 0:56:43I don't know, my grandmother used to tell me that drugs are bad.
0:56:43 > 0:56:49But, you know, that's Picasso. I mean, you know... It's beautiful.
0:56:49 > 0:56:53This is more of a piece that you stand around and you talk about it.
0:56:53 > 0:56:56What was he thinking? What was he...?
0:56:56 > 0:56:59His state of mind at that time?
0:56:59 > 0:57:01That's what you would do with this one,
0:57:01 > 0:57:03you would try to figure it out.
0:57:03 > 0:57:08The colours. Whose face was he thinking about when he did it?
0:57:10 > 0:57:13The great thing about working here
0:57:13 > 0:57:16is that where else could you handle this?
0:57:16 > 0:57:19You go to a museum, you've got to stand behind glass
0:57:19 > 0:57:21or you've got to stand behind rope.
0:57:21 > 0:57:24This is stuff you read about.
0:57:24 > 0:57:27You know, you've got to enjoy it.
0:57:27 > 0:57:30Who can hold 12 million?
0:57:32 > 0:57:36When I first started here, I didn't know too much about it,
0:57:36 > 0:57:39but then you start learning about stuff and you listen
0:57:39 > 0:57:43to the specialists explain, and it's really cool,
0:57:43 > 0:57:47because it's just not a painting, there's a story behind it.
0:57:47 > 0:57:50You know, behind a canvas that's plain, there's a story,
0:57:50 > 0:57:54and that story sells.
0:57:54 > 0:57:56We want our country back!
0:57:56 > 0:58:00Next time, will one of the greatest political upsets
0:58:00 > 0:58:03of a generation make things worse for Christie's
0:58:03 > 0:58:05in their big anniversary year?
0:58:05 > 0:58:08It's a pass at 1,750,000.
0:58:08 > 0:58:10It's a pass at 2,600,000.
0:58:10 > 0:58:14Will this great painting be their world record success of the year?
0:58:15 > 0:58:17Reluctantly, yes. 32 million.
0:58:19 > 0:58:22Will Christie's pursuit of the new rich of China pay off?
0:58:22 > 0:58:26People who have no knowledge of arts but have loads of cash.
0:58:26 > 0:58:27SHE SPEAKS OWN LANGUAGE
0:58:27 > 0:58:30..150,000. Last chance.
0:58:30 > 0:58:34And the mystery buyer who paid a world record 57 million
0:58:34 > 0:58:36for the Basquiat is revealed.
0:58:36 > 0:58:38Were you the auctioneer at that time?
0:58:38 > 0:58:42- I was the auctioneer at that time. - Ohh! I know you! I know you!