Archive for November 2006

ELBOW GREASE: A slick review of the current Picasso market

Now that the dust has settled after the fall auction season and the pundits have all weighed in on the current art market, it’s time to look at the recent Picasso sales in greater depth. The season has been marked by a number of notable events, chiefly a Picasso that would have been the highest-priced painting ever sold (La RĂªve, 1932), had Steve Wynn not put his elbow through it. It would have been a short-lived triumph anyway, since the sale of a rather homely Pollock shortly thereafter topped it (reportedly) by a million. The prices of these paintings were predictable, in that they just exceeded the previously highest-priced sale, the Lauder Klimt. Clearly, art collecting is a blood sport…

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