AUCTIONS

Is It the Economy Or the Art?

With the continual problems facing the economy, the media has been intensely following the big ticket auctions that aren't selling ridiculously priced artwork, linking the plunging art market to the failings on Wall Street. While we're no experts and don't dismiss the far reaching consequences of the current financial climate, the rich could just be losing interest in some of the contemporary art selections. Even if you had the money and were a fan of Roy Lichtenstein, would you plop down $15 million for this "comic-strip painting"? The work failed to sell last night and most buyers probably opted for the less prestigious, more economical version of the image being offered by the high end auction house: it's catalogue. |NYT|

Auctions, Contemporary Art, Roy Lichtenstein, Sotheby's

1 comments

by ANIMAL on November 12, 2008