Is The Art Market Recovering?
A Sotheby’s auction of Impressionist and modern art in New York last night fetched $182 million, exceeding even the most optimistic expectations despite the world economic crisis. (Guess those Wall Street bankers’ billions have to go somewhere, and a Picasso in your home is less conspicuous than a Ferrari in your driveway.) One of the highlights was the sale of Kandinsky’s “Krass und Mild” (pictured), which sold for $10,610,500.
