While there is a recession in the U.S. economy, one group of Americans more accustomed to bust than boom is in the midst of a new wave of prosperity. They are Manhattan's abstract expressionist painters, who until three years ago could rarely afford to move out of their coldwater, walk-up studios. Now their shows are selling out, and at record high prices.
Perhaps most in demand is the work of Jackson Pollock, whose paintings reached a top price of $10,000 before his death two years ago. Major Pollock canvases are now bringing up to...
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