The market for classical modern and postwar art is proving robust and surprisingly resilient, even in unspectacular areas. This week’s and last week’s New York auctions proved that.
Piet Mondrian’s 1930 “Composition II” sold for $51 million at Sotheby’s in New York.
The climax of this year’s auction season, arguably a historic milestone in the history of the art market, had been passed – and everything that followed had to be treated as “business as usual”. Microsoft co-founder Paul G. Allen’s collection, which sold for a staggering $1.6 billion at Christie’s last week, was just too powerful.
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