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During times of financial uncertainty at different historical times, collectors with cash have always searched to invest their liquid assets into secure valuable icon art by for instance Picasso, Giacometti, Rothko, Monet, Warhol, etc. This behavior is repeated during todays financial crisis.

Even though New York experienced the devastating Sandy last week, only few art auctions have been canceled. And next Monday Sotherby is having a huge auction with art catalogs bursting with hundreds of millions of dollars’ worth of paintings, drawings and sculptures from some of the worlds most recognized artists, many of which are being sold by collectors hoping to take advantage of the growth in the global art market.

Especailly American collectors are among the biggest sellers, caused by the insecurity of the American financial and political scene. Besides American collectors and sellers, the new rich form the Middle East, Russia, Brazil, China and Azerbaijan are also represented at this fall’s auctions. But it’s only the icons at the art scene who are interesting for the art collectors – not the new names. Art is an investment, a new kind of valuta on the global marked today.

These are some of the big-ticket items that the auction houses are betting on over the next two weeks.

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One thought on “A New Boom In the Art Marked

  1. Pingback: New sales record at Sotherby! | Toxique Magazine

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