The art world's refusing to let go of their auctions, regardless of how tough times might be.
We get it - as if the fashion industry would ever relinquish Fashion Week.
But wouldn't it make sense to postpone things a bit, especially after Christie's disastrous auction at the beginning of this month?
Yet, they're forging ahead with an impressive auction of Jeanne Lanvin's mostly Impressionist paintings, including works by Degas, Pissarro, Renoir, Vuillard and a lone Picasso as the cherry on top. They'll go up for sale on December 1st and are expected to bring in at least $25 million despite today's economic state. Christie's will follow that, of course with the highly anticipated auction of Yves Saint Laurent's art and valuables.
Is it the nature of these auctions - both collections developed by famous people and both connected to the fashion industry which could bring in an entirely different kind of buyer - that makes Christie's think they'll be more successful? Or do the auction houses believe that things will just get worse and therefore aren't willing to hang on to the art for ten or so years while the economy rebuilds itself?