21
nov
13

Bringing Home the Bacon: Is This Worth $142 Million?


Blog of the Courtier

The most important season for the buying and selling of paintings has always been in the fall, and the greatest interest in those exchanges is centered primarily around the numbers coming out of the big New York auction rooms.  Not only does the art world follow the results, but financial institutions take an interest as well, since it gives them some sense of where the very wealthy are putting their funds.  These days the products of the Modern and Contemporary art world in particular are often viewed more as investments or tax write-offs, rather than as the playthings of those who have money to burn.  Thus, while sixty years ago the market was dominated by sales of Old Master paintings, and thirty years ago by the Impressionists and Post-Impressionists, today Modern and Contemporary Art sales act as a bellwether not only of the economy, but also of the culture.

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