This morning's New York Times article about the Sotheby's and Christie's Auctions in New York this week. By all accounts both were quite impressive auctions, however I take issue with the Times' attempt to correlate the prices paid for high end, big name works of art from world renowned auction houses with the current "economic crisis". Yet, the hammer prices were very important. Of course everyone expects Modigliani, Monet and Matisse to be high sellers. What isn't expected is for their lesser works to garner the same enthusiasm and high sales as the artists' most valued works have previously achieved. Thus marks the transition of 20th century art to rarity, or at least in terms of availability on the art market.Something to keep an eye on!
Sotheby's made the news again this morning, this time for a stolen Degas that was discovered at their Paris office. Exciting news all around!
