CNBC has a good online video on the recent NY art sales, including mentioning the Picasso which set an auction record for art at $106.5 million was sold to the Huntington Library. The two week period of sales brought $1.2 billion in sales. The video interviews Christie's Marc Porter and states Christie's sold $652 million over the two weeks of Impressionist, Modern and Contemporary sales. Porter states he sees that high quality art is a good store of value as an investment, with the added bonus of being able to enjoy the work. Therefore the demand remains high.
The video is a little over 3 minutes and worth watching, not only as a review of the past auctions, but for the current mind set at the upper end of the market.
To view the video, click HERE.
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