$1 billion art week could mark recovery

CNBC | Robert Frank:

Three auction houses set to auction more than $1 billion in fine art this week.  The star of the week will likely be an untitled work from Jean-Michel Basquiat. The Basquiat could fetch $60 million, and be the most expensive work sold for the week. The three major auction houses are set to auction off more than $1 billion worth of fine art this week, marking a test of whether collectors can shrug off turmoil in Washington and sagging stock markets…read more

Image |  Christie’s | Cy Twombly | Leda and the Swan: