Auctions

A celebrated painting by British artist David Hockney has been sold at Christie's in New York for just over $90m (£70m) - an auction record for a work by a living artist, reported BBC. 

Portrait of an Artist (Pool with Two Figures) had been forecast to fetch $80m.

It sold following a 10-minute battle between two rival bidders via telephone, after the price passed $70m.

An iconic swimming pool picture painted by British legend David Hockney sold for $90.3 million in New York on Thursday, setting a new auction record for a living artist, Christie's said, reports AFP.

The state is planning to auction 31 properties between October 17 and December 19, and according to sources this figure may grow considerably, as besides the increase in bank account confiscations and asset freezes, the Independent Authority for Public Revenue is increasing the pace of online auctions too.

Prospective bidders for the coal-fired electricity plants Public Power Corporation is selling at Meliti and Megalopoli are asking for more time before they submit their final offers.

On Wednesday Greece sold 26-week treasury bills at a yield of 0.85 percent, unchanged from the previous similar auction last month.

Wednesday's auction amounted to 1.625 billion euros, the Public Debt Management Agency (PDMA) announced.

Total bids of 1.729 billion euros were submitted, exceeding the required amount by 1.38 times.

The settlement date is Friday.

A single pair of premium melons fetched a record 3.2 million yen ($29,300) at A May 26 auction in Japan, where the fruit is regarded as a status symbol.

Twenty-two world records have been set at a Christie's auction, including the $832 million total for the priciest private collection of artworks and other treasures, owned by Peggy and David Rockefeller. The late couple's family is donating all proceeds from this week's sale to charity.

This Friday the E-Auction online platform for foreclosures will for the first time also open for the state, which will start using the tool to pressure major debtors to settle their arrears to the tax authorities.

Bidding opens on Monday for licenses commercial activities like refreshment stands and umbrella rentals at dozens of Greece's beaches.

The Finance Ministry hopes for a bigger turnout compared to last year, when the scheme was first launched and pertained to licenses for 61 beaches. According to data, closing prices last year were 50.3 percent higher than starting prices.

The Privatization Administration of Turkey has conducted separate auctions to corporatize two sugar factories, amid controversy over the move.