AUCTIONS: Bull Market For Picasso

Bull Market For Picasso

Picasso went through his Rose and Blue Periods, and now his works have taken on a greenish hue. At least that is how investors see them. Betting that fine art will appreciate more quickly than stocks and other investments that have been sluggish since the Black Monday crash, high rollers have sent auction prices for masterworks skyrocketing to unheard of levels. Earlier this month a 1923 Picasso painting titled Birdcage was auctioned for a record $15.4 million, only to be topped four days later by the sale of the 1901 Motherhood for $24.8 million. Then last week a 1905 gouache titled...

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