RECENT POSTS
- Use 2003 As Template For 2009, Says Terranova
- Halftime Report: New Signs Of Downdraft In Market?
- Your First Move For Wednesday November 25th
- Web Extra: Seymour's M&A Play
- Pops & Drops: American Eagle, Green Mountain Coffee...
- Giving Thanks: Najarian
- Take Your Position: Cyber Monday
- Rick's Turkey: Fed Transparency
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the lastest show here.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTSDownload Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
 |
The spring thaw may have come a little to the art market, but the seasons are clearly changing.
A sale of contemporary and postwar art by Sotheby’s [BID
Loading...
()
] generated a fairly solid result on Tuesday. The sale's $47 million total including commission fell just shy of its low pre-sale estimate of $52 million, with 81 percent of the 48 lots on offer finding buyers.
Sotheby's officials said they were pleased by the result, despite the sale's having come in at less than half the take just six months ago.
"The contemporary art market is alive and well" and "has responded to the recalibration," said Tobias Meyer, Sotheby's worldwide head of contemporary art, and the auctioneer.
Meanwhile, impressionist and modern art sold well at Christie's last week at an auction that met expectations and provided a measure of relief to a tense art market battered by the global financial crisis.
That relief was palpable when applause broke out in Christie's salesroom after the hammer fell on the final lot of the sale, which took in nearly $103 million, safely above the low pre-sale estimate of $88 million.
If you're a collector this is good news. But if you're an investor not so much. None of the Fast Money traders are bullish on Sotheby’s stock.
- Use 2003 As Template For 2009, Says Terranova
- Halftime Report: New Signs Of Downdraft In Market?
- Your First Move For Wednesday November 25th
- Web Extra: Seymour's M&A Play
- Pops & Drops: American Eagle, Green Mountain Coffee...
- Giving Thanks: Najarian
- Take Your Position: Cyber Monday
- Rick's Turkey: Fed Transparency
- Under The Radar Trades
- Our Best Black Friday Trades
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .
Trader disclosure: On May 14th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (AGU), (F), (AAPL), (MGM), (NFLX), (GE), (SKF), (SDS), (WFC); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (CSCO), (PBR), (RIG), (UNH), (WFC); Najarian Owns (AMD) Call Spread; Najarian Owns (BX) Calls; Najarian Owns (CROX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (MS) & (MS) Calls; Najarian Owns (MOS) Call Spread; Najarian Owns (PALM) & (PALM) Calls; Najarian OWns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Calls
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes