Amid a grim economic environment, the art market let out a sigh of relief Monday as Christie’s in Paris successfully auctioned $264 million of Impressionist and modern artworks collected by the late designer Yves Saint Laurent and his partner, Pierre Bergé.
From the Wall Street Journal:
Not everything is losing value.
Amid a grim economic environment, the art market let out a sigh of relief Monday as Christie’s in Paris successfully auctioned $264 million of Impressionist and modern artworks collected by the late designer Yves Saint Laurent and his partner, Pierre Bergé.
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The evening sale in Paris surpassed its presale high estimate of $232 million, a reassuring result indicating that the world’s billionaires are willing to compete for blue-chip artworks that they consider a bargain.
Nobody wanted the collection’s priciest painting, a moody Cubist Picasso estimated to sell for at least $32 million. But records were broken for seven other artists, including Piet Mondrian, Marcel Duchamp and Constantin Brancusi.
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