Kluge, Wasserman Trophies Test Art Market in $1.1 Billion Sales

"A Matisse painting that once belonged to Lew Wasserman and a trio of Maillol bronzes from the collection of John W. Kluge will be among art offered during the next two weeks as New York auctioneers present works valued at more than $1.1 billion.

'Everyone will be watching these sales very closely,' said Jeff Rabin, co-founder and principal at New York-based Artvest Partners, which provides investment advice for the art market. 'Art is a good store of value in uncertain times. On the other hand, art is highly illiquid and if you have financial need, it is not the place to be.'"  [Read Full Article]

Published by:  Bloomberg
On:  10/31/11
Website:  http://www.bloomberg.com

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