Records were smashed for Jean-Michel Basquiat, Jackson Pollock, Roy Lichtenstein and auctions themselves as Christie’s (CHRS) sold $495 million of contemporary art last night in New York. It was the biggest art auction in history, said Marc Porter, chairman of Christie’s Americas.
“You have a lot of foreign money, a lot of hedge-fund money,” said Miami collector Martin Margulies after he exited the packed salesroom. “Stocks could go down 50 percent. If this goes down, it will eventually go back up. These are historical pieces.”
Traver Dodorye speaks:
I feel a certain way about this and I don't know why. Basquiat being one my favorite artists of all times standing right beside pablo picasso it is so interesting and akward that these paintings value so much today. Here is my question what is the difference from a painting that was painted in 1966 or 1983 to something painted today? So me as a young art guru coming up in the art industry I shouldn't worry about becoming succesful until I am dead. I respect all art and artist, but at the end of the day reality set in a couple of days ago when I saw that "Basquiats" dusty heads sold for 48 million, so your work is not valued without age?..........Wow unbelievable! Success after death!
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