Word: goghs
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...that the auction houses had placed vastly inflated reserves, or minimum acceptable bids, on their paintings. Says Richard Feigen, an international art dealer: "Their estimates and reserves are now insane, sometimes double what the market will bear." Prices for older masterpieces are expected to hold up well. Van Gogh's Portrait of Dr. Gachet should bring more than $40 million at auction this week. Other safe bets: 20th century classics (Picasso, Matisse) and postwar Americans (Jackson Pollock, Mark Rothko). But experts think prices will soften dramatically for paintings by some young superstars (David Salle, Eric Fischl, Anselm Kiefer). Says Feigen...
...Gogh's Irises, 1889, known to the trade as the Curse of the Outback, has found its permanent home in the Getty Museum in Malibu, Calif., which bought it for an undisclosed sum last week. Acquired at auction in November 1987 for $53.9 million by the Australian conglomerator and promoter Alan Bond, Irises was the most expensive work of art ever sold. Its price created an artificial euphoria that bulled the world art market and helped save it from the October ( '87 Wall Street crash. The name of the underbidder was never revealed, raising suggestions -- indignantly denied by the auctioneers...
...grossly inflated art market, burglars make off with old-master paintings. -- The Getty buys the world's most expensive work, Van Gogh's Irises, but won't reveal the price...
...dropping the loan arrangement he had until recently so staunchly defended. If anything had cast doubts on the market's credibility, it was news that Sotheby's most flagrant loan deal seemed to be coming unraveled. As has been rumored for months, the world's most expensive painting, Van Gogh's Irises, appears to be headed back on the market...
...world's most expensive painting, Van Gogh's Irises, may be up for sale again, but don't look to Sotheby's for the loan to buy it. The auction house has mended its ways...