Art: Under the Boom

A new force is loose in the art markets. It is the buccaneer investor, who does not know what he likes but knows a good investment when he sees one. The result: a boom in art sales that is unparalleled in living memory.

Most conspicuous sign of the times last week was an auction at Manhattan's Parke-Bernet Galleries. In just one hour. 29 middling-good impressionist and post-impressionist pictures were sold for a whopping $1,528,500. The auction was so crowded that 5,000 people were turned away, and half of the 2.000 ticket holders were forced...

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