Art: Do I Hear $5 Million? Sold!

York City auctions

Limousines glide up to the curb on Manhattan's East Side, disgorging a platoon, perhaps even a battalion, of the richest inhabitants of the planet. A seasoned observer estimates that the crowd rushing inside includes at least 100 people worth more than $50 million apiece. The fall art-auction season -- the "shark feed," as Connoisseur Editor Thomas Hoving calls it -- is at gavel pitch, and once again great works, and some not so great, are going, going . . . gone.

Such was the scene at Sotheby's and Christie's during the past two weeks as the speculative fever of Wall Street...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!