Art auctions continue to break records, yesterday a picasso sold for $179 million breaking records never seen before, it has appreciated nearly $150,000,000 in less than 20 years when it was last sold for $31.9 million..... another rumor is going around that a piece Gauguin’s “When Will You Marry” sold for $300 million in February without an auction.......just 2 years ago a record $142 million was spent on “Three Studies of Lucian Freud,” and the previous record prior to that was $120 million for "scream"....again all these records are happening because of the trillions that BUBBLE bernanke and friends pumped into the market, there are so many trillions that it has to go somewhere....after doing a little research in 2009 art sales reached $6.3 Billion, last year prices for art have surged with last year totaling $16.3 BILLION!!!!
The Trend of rising prices in luxury art is succinctly described by the Washington Post:
“The steady inflation of the art market can be summed up with a quick glance at the list of most expensive auctioned works. At number five is a Picasso sold for $106.5 million in 2010. Number four is Edvard Munch’s iconic “The Scream” sold for $120 million in 2012. A year later, Francis Bacon’s “Three Studies of Lucian Freud” reached $142.4 million. And then there were the two heavy hitters from Monday’s auction: Picasso’s “Women of Algiers (Version O)” for $179.4 million and Alberto Giacometti’s “Man Pointing” for $141.3 million, which is the most expensive sculpture ever sold at auction.”
William Banzai “Women of Cashiers”
(http://news.goldseek.com/GoldSeek/1431434186.php)
Picasso painting fetches record $179 million in auction
Published: May 12, 2015 9:28 a.m. ET
Reuters
A man examines Pablo Picasso's "Les femmes d'Alger (Version 'O')" (Women of Algiers), which sold for a record $179.4 million Monday.
By
KELLYCROW
Never underestimate the power of pretty women. Pablo Picasso set a record Monday when his 1955 painting of a harem of colorfully dressed women, “Women of Algiers (Version O),” sold for $179.4 million — the most ever paid for an work of art at auction.
The price surpasses the $142.4 million paid two years ago for Francis Bacon’s triptych, “Three Studies of Lucian Freud,” as well as earlier record of $120 million for Edvard Munch’s tortured “Scream.”
In a dogged contest at the auction house’s New York saleroom, the bidding for the Picasso began at $100 million and shot up quickly, with four telephone bidders competing for the jewel-tone scene of Cubist-style women lounging at odd angles in a room festooned with lush, striped décor. But as the price topped $145 million, the bidding war winnowed to a pair of telephone bidders and the room watched, hushed, a few pulling out their cellphones to capture the moment. After 11 minutes, the gavel fell and Brett Gorvy, global head of post-war art, fielded the anonymous winning bid.
Picasso Painting Auctioned for Record $179 Million
(1:09)
Pablo Picasso's “Women of Algiers (Version O)” set an auction record Monday, selling in New York for a final price of $179.4 million after commission.
The Picasso was considered a trophy as much for its ownership pedigree as its artistic merits. The work last changed hands 18 years ago when the estate of U.S. collectors Victor and Sally Ganz sold it through the auction house to a London dealer for $31.9 million. Its seller on Monday remains anonymous.
The Trend of rising prices in luxury art is succinctly described by the Washington Post:
“The steady inflation of the art market can be summed up with a quick glance at the list of most expensive auctioned works. At number five is a Picasso sold for $106.5 million in 2010. Number four is Edvard Munch’s iconic “The Scream” sold for $120 million in 2012. A year later, Francis Bacon’s “Three Studies of Lucian Freud” reached $142.4 million. And then there were the two heavy hitters from Monday’s auction: Picasso’s “Women of Algiers (Version O)” for $179.4 million and Alberto Giacometti’s “Man Pointing” for $141.3 million, which is the most expensive sculpture ever sold at auction.”
William Banzai “Women of Cashiers”
(http://news.goldseek.com/GoldSeek/1431434186.php)
Picasso painting fetches record $179 million in auction
Published: May 12, 2015 9:28 a.m. ET
A man examines Pablo Picasso's "Les femmes d'Alger (Version 'O')" (Women of Algiers), which sold for a record $179.4 million Monday.
By
KELLYCROW
Never underestimate the power of pretty women. Pablo Picasso set a record Monday when his 1955 painting of a harem of colorfully dressed women, “Women of Algiers (Version O),” sold for $179.4 million — the most ever paid for an work of art at auction.
The price surpasses the $142.4 million paid two years ago for Francis Bacon’s triptych, “Three Studies of Lucian Freud,” as well as earlier record of $120 million for Edvard Munch’s tortured “Scream.”
In a dogged contest at the auction house’s New York saleroom, the bidding for the Picasso began at $100 million and shot up quickly, with four telephone bidders competing for the jewel-tone scene of Cubist-style women lounging at odd angles in a room festooned with lush, striped décor. But as the price topped $145 million, the bidding war winnowed to a pair of telephone bidders and the room watched, hushed, a few pulling out their cellphones to capture the moment. After 11 minutes, the gavel fell and Brett Gorvy, global head of post-war art, fielded the anonymous winning bid.
Picasso Painting Auctioned for Record $179 Million
(1:09)
Pablo Picasso's “Women of Algiers (Version O)” set an auction record Monday, selling in New York for a final price of $179.4 million after commission.
The Picasso was considered a trophy as much for its ownership pedigree as its artistic merits. The work last changed hands 18 years ago when the estate of U.S. collectors Victor and Sally Ganz sold it through the auction house to a London dealer for $31.9 million. Its seller on Monday remains anonymous.
