The Rich Are Spending Again
The boom times are well and truly back for the top end of the art market, only a year after the traditional centers of the auction world — New York and London — suffered their worst slump in a generation. Christie’s in London announced yesterday that it is to sell a rare blue-period Picasso (pictured) portrait with a “conservative†estimate of between $45 million and $60 million, the highest for a work of art offered at auction in Europe.
