Huffington Post says it’s the ‘sale of the century’.
CNN calls it the ‘auction of a lifetime’.

Yesterday, the private collection of the late Yves Saint Laurent brought in more than 260 million U.S. dollars on day one of a three-day auction.

The New York Times says this makes the 733 pieces of the fashion designer’s collected work the most expensive ever sold at auction.

Hello, I’m Charlotte Bellis and you’re watching Newsy.com.

We’re tracking perspectives from the New York Times, SKY News, France 24, CNN and The Huffington Post.

Despite the economic crisis, the auction managed to break record sales for many artists, doing better than anticipated.

The New York Times says that both a Matisse and Mondrian went for double what was expected, breaking record sales for both.

But not every auction was a success.  

The Times says a Picasso that was expected to raise the most money didn’t make it to the minimum price.

France 24 quotes an anonymous competitor of the auction house who clarifies what these sales mean for the art world.

"It will restore the market…People will understand that art is a good long-term investment, that works such as these turn a profit over 20 or 30 years, and that buying art is also buying pieces you can live with and enjoy, just as Berge and Saint Laurent did." (France 24)

CNN says high art prices prove, "Even in hard economic times, there seems to be no shortage of those who believe masterpieces are always valuable.” (CNN)

But The Huffington Post took a different view – saying it was like “Dancing on the Titanic.”

They presented an online slide show and reactions varied:

“I don’t know what’s worse, running a story like this in the dire global economy in which people are losing homes…  or reading about the ridiculous amount the art pieces are fetching.”
Another said:
 “I can definitely understand people’s reaction of disgust. But, what people need to remember is, that the pieces are not going to lose their value...” (Huffington Post)


We’d like to know what you think. How much is too much to pay for a piece of art? Is this a good way to invest your money?

Please share your comments and check out our sources.

Art World Gets Big Boost

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Feb 24, 2009

Art World Gets Big Boost

Huffington Post says it’s the ‘sale of the century’.
CNN calls it the ‘auction of a lifetime’.

Yesterday, the private collection of the late Yves Saint Laurent brought in more than 260 million U.S. dollars on day one of a three-day auction.

The New York Times says this makes the 733 pieces of the fashion designer’s collected work the most expensive ever sold at auction.

Hello, I’m Charlotte Bellis and you’re watching Newsy.com.

We’re tracking perspectives from the New York Times, SKY News, France 24, CNN and The Huffington Post.

Despite the economic crisis, the auction managed to break record sales for many artists, doing better than anticipated.

The New York Times says that both a Matisse and Mondrian went for double what was expected, breaking record sales for both.

But not every auction was a success.  

The Times says a Picasso that was expected to raise the most money didn’t make it to the minimum price.

France 24 quotes an anonymous competitor of the auction house who clarifies what these sales mean for the art world.

"It will restore the market…People will understand that art is a good long-term investment, that works such as these turn a profit over 20 or 30 years, and that buying art is also buying pieces you can live with and enjoy, just as Berge and Saint Laurent did." (France 24)

CNN says high art prices prove, "Even in hard economic times, there seems to be no shortage of those who believe masterpieces are always valuable.” (CNN)

But The Huffington Post took a different view – saying it was like “Dancing on the Titanic.”

They presented an online slide show and reactions varied:

“I don’t know what’s worse, running a story like this in the dire global economy in which people are losing homes…  or reading about the ridiculous amount the art pieces are fetching.”
Another said:
 “I can definitely understand people’s reaction of disgust. But, what people need to remember is, that the pieces are not going to lose their value...” (Huffington Post)


We’d like to know what you think. How much is too much to pay for a piece of art? Is this a good way to invest your money?

Please share your comments and check out our sources.

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