I recently read an article about the upturn in the sales of artwork during the current recession. The upcoming sale of Picasso’s painting of Marie-Therese Walter by Christie’s, New York, this May is expected to bring in a record breaking amount. This follows a string of significant sales by the auction houses early this year and this past fall.
According to the author if the Picasso sale goes as expected, this will be the second time in four months that the record for an auction has been broken. What makes this particularly noteworthy is that we are still experiencing a global recession. The explanation of course can be attributed to who is purchasing the artwork. It is pretty obvious that those having the least financial difficulties in these times are buying art.
This also appears to be the best time to place pieces on the market. While there is not an abundance of artwork for sale these days, the items offered at auction houses are of particular interest to those who are looking to buy specific pieces of art at good prices.
There will be a lot of people watching to see if Christie’s Picasso auction this spring will break another record. If it does, this may be the deciding factor in the return of the auction houses dominating the sales of great art work.
You can find art books, art auction and exhibition catalogs at Nella’s Books and Collectibles.
www.nellasbooksandcollectibles.ecrater.com
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