Picasso, for Sale

Elizabeth

The art market is hurting and the fashion world is suffering, but maybe together they can figure things out. This is the kind of hopeful excitement that comes out of yesterday’s auction held by Christie’s of the artwork collected by Yves Saint Laurent and his partner Pierre Bergé.

The collection, which includes pieces by Picasso, Mondrian, Duchamp and others went for a total of $264 million yesterday after being appraised at $232 million. After all three days of the sale, it is expected to make $425 million. The New York Times featured a slideshow of Laurent’s home featuring the artwork.

A pair of Chinese bronze fountainheads will be added at $13 million each after the Chinese government ended their protest of the sale (the heads had been looted in 1860).

The Wall Street Journal reports that several items, including a Duchamp perfume bottle went well above the estimated value after heated bidding wars.

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