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Christie's finds relief in stable prices and a Basquiat sale

Its centrepiece canvas by the artist sold for US$57.3m; final tally for Tuesday's auction was US$318.4m

The main prize at Christie's post-war and contemporary sale on Tuesday was Basquiat's untitled canvas in which he depicts himself as a horned devil rising amid furious brush strokes of orange, red, white and black.

New York

GOING into its post-war and contemporary sale on Tuesday night, Christie's had reason to be anxious about a perceived softening in the market - fears that appeared to have been confirmed by Sotheby's impressionist and modern auction on Monday night, when a whopping one-third of...