Selling well

THE French foreign ministry announced recently that auction prices for works by contemporary French artists have fallen lamentably far behind those of artists from other European countries. Seen in perspective, though, the situation is less drastic than it might appear at first blush. True, no contemporary French artist is in the same category as, say, Gerhard Richter, who stood in pole position at the June contemporary art sales at Sotheby's and Christie's in London. But then nor are many other artists. Mr Richter has been one of the most consistently successful artists at auction in recent years. The astronomical prices his works have been selling for rank him alongside such bankable stars as Andy Warhol and Jeff Koons.