Extremely Expensive
Deal of the Art: Why Auction Houses Are Giving Away Millions
The bids spiraled higher and higher until — bang! — the hammer fell: sold, for $62.75 million. A sense of relief rippled through Sotheby’s elegant Manhattan headquarters as “Untitled (New York City),” a celebrated painting by Cy Twombly, ultimately set an auction record for the artist. For behind the heady…
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