Iconic Artworks Could Signal a Blockbuster Auction Season

  • November 01, 2012 22:03

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Claude Monet's Water Lilies from 1905 may fetch upwards of $50 million at Christie's on Nov. 7.
Christie's

Next week's deluge of big-ticket art auctions in New York are tied to high expectations that the world's super-wealthy will continue to part with cash for hundreds of millions of dollars worth of artwork.

This season's auction selection was boosted by billionaire consignors who are selling at a time of uncertainty over the global economy, the presidential election, and a possible increase to the 28 percent capital gains tax.

The ones to watch at Sotheby's, Christie's, and Phillips de Pury & Company include several iconic works expected to reach higher than $35 million - from one of the best examples from Monet's water lilies series to a bold and bright Rothko.

Read more at New York Times

Tags: european art

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