Sunday, 4 May 2008

For sale: Art and optimism

The New York Times reports on the high estimates in the upcoming auctions. "You can’t help but wonder just how many of the smartly dressed people sitting night after night at Sotheby’s, Christie’s and Phillips de Pury over the next two weeks will be serious bidders and how many will be voyeurs hoping to witness an implosion of the multibillion dollar art market. For years collectors and the news media have been speculating about when prices would finally top out. Spring sales estimates don’t suggest pessimism."

The Francis Bacon triptych pictured here has an estimate of about 70 million USD.

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