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View story A Picasso Flops 1 / 0 http://http://www.bloomberg.com/apps/news?pid=20601088&sid=a... Submitted by thisisruth 6 months, 3 weeks, 2 days, 18 hours ago This article, titled "Sotheby’s Impressionist Sale Hits 7-Year Low as Picasso Flops", conveys just how hard the art market has been hit by the poor economy. The Sotheby auction's total draw was expected to be at the very least 81.5 million dollars, but ended up being closer to a devestating 61.4 million. It was the lowest number since Sotheby's 2001 election which occured shortly after 9/11. The Picasso painting which was left unclaimed by the end of the night was the former possesion of a New York real-estate developer who was an investigator in the Bernie Madoff ponsy scheme. Tags: auction, Economy, sales comment (0) | Category: Auction news | Add thisisruth as a friend Comments Votes (my friends) Votes (Everyone) Add your comment Add your comment If you already have an account, sign in: Email address: Password: If you don't, just complete these fields: (or join art2news:: News and events in the Visual Arts for free) Your name: Your site: (optional) Your comment: (You have up to 5000 characters left) Can you see the 5 most prominent letters/numbers in this image? (case insensitive) Please enter them here: « go back

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