131312Looks like Christie's is out $6.5 million. At auction last night, Richard and Kathy Fuld's collection of drawings failed to reach the $20 million that Christie's had guaranteed the couple. The sixteen works fetched just $13.5 million, in keeping with the lackluster response to many other lots on the block. (A 1964 self-portrait by Francis Bacon, estimated at $40 million, didn't attract a single bidder.) One of the Fulds' drawings that fetched a decent price was an Arshile Gorky that Matthew Marks paid $2.2 million for, although that still barely hit the low estimate. But just so you know, it wasn't as if there was any connection between Kathy Fuld selling the art and the spectactular downfall of her husband's career. "I've been selling things for the past few years," Kathy told a reporter recently. "But nobody cared until now." [NYT, ABC]