Is collecting art the new gold?

(THOMAS SAMSON/AFP/GETTY IMAGES) – French auctioneer Francois de Ricqles sales a photography entitled \”Dovima with elephants, evening dress by Dior\”, Cirque d’Hiver Paris, August 1955 by US fashion photographer Richard Avedon at Christie’s. it recently sold for $1.1 million.

As the world economy began to tank about five years ago, a curious thing happened at the top level of the international art market: It started to boom. At the annual spring art auctions at Sotheby’s and Christie’s in New York and their branches around the globe, deep-pocketed bidders snapped up Braques and Bacons, Klimts and Kandinskys, often at record prices.


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This entry was published on August 12, 2012 at 12:04 am and is filed under Insights. Bookmark the permalink. Follow any comments here with the RSS feed for this post.

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