Art Market Watch

THE SPLIT IN THE MARKET
by Charlie Finch

Alone among auction observers, Souren Melikian of the International Herald Tribune is predicting, in the wake of this month's record auction numbers in New York, a coming crash in the fine art auction market similar to the famous, long ago Japanese real estate bubble of 1989. Back then, coincidentally, Cy Twombly doodle pieces were especially desirable, as they were last week.

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