Flaccid Prices at Phillips de Pury's Sexy Art Auction

Art auction house Phillips de Pury has learned that sex sells. Pushing erotic-themed contemporary works, the house brought in $2.1 million at a London sale on Saturday night at a sale called simply "SEX." Of the 271 lots that went under the gavel, including art, design and photography, 69 percent sold. Unfortunately, the auction's revenue only hit 78 percent of the presale estimate: competition wasn't exactly stiff for the hottest works on the block.

The highlight of the evening was a painting by UK pop artist Allen Jones. His 1966 "Soft Tread" featured a pair of legs in stockings and adorned with stiletto heels. The sultry effort aroused at least six bids and enough action to thrust the selling price to 361,250 pounds. With a presale estimate of 60,000 pounds to 80,000 pounds, the action surely justified the art world's equivalent to a post-coital cigarette.

Apparently the erotic and sex-themed art market is hardening ... and it's turning on billionaires. A piece by Otto Mueller featuring two nude female bathers fetched 2.1 million pounds at Christie's last month, three times the high estimate.