ART MARKET WATCH


Feb. 9, 2007

ART-MARKET BOOM CONTINUES IN LONDON
"I have no fucking clue why people buy the shit that they do," wailed one silver-tongued art-world insider in the face of the astonishing prices paid at both Sotheby’s London and Christie’s London for Impressionist, modern and (especially) contemporary art this week. The sentiment was certainly widespread, despite former Metropolitan Museum director Thomas Hoving’s simple solution to the mystery, recently quoted in the Guardian newspaper: "Art is money-sexy-social-climbing-fantastic!"

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