I watched "Thomas Crown Affair" the other night for the umpteenth time. The word 'art' conjures up some pretty pictures, at least it does for me. But then again, beauty is subjective and it really is in the eye of the beholder.
Just like these works of art below. The first piece reminds me of the one in my office which makes me feel how inadequate I am at interpreting modern art. Sigh.
And then there are these..
Mind you, all these are pieces by famous artists and are slated for Fall Auction at Sotheby's this coming week. Even auction houses have been impacted by the economic downturn as prices for art pieces - paintings, sculptures, drawings - have taken a beating.
Gone are the days of lucrative financial incentives like guarantees (a minimum sum offered to a seller regardless of the outcome of a sale) that were regularly doled out when times were good. Gone too are extravagant parties and lavish catalogs the size of telephone books.
People now think carefully about what they buy and how much they are willing to spend. Prices are also lower because there aren’t many blockbuster artworks on the market.
Source: NY Times