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Pulling in record prices for seven artists, the much-anticipated auction of Yves Saint Laurent's art collection got off to a flying start on Day One's sale of Impressionist and modern art. The $266 million tallied on Monday - a record auction for a private collection - is good news for the AIDS researchers who will get part of the proceeds; for Pierre Bergé, the designer's former companion and lifelong business partner who put their joint collection on the block; and for Christie's and the entire art market, which hopes the stunning performance will be the shot...

Author: /time Magazine | Title: Saint Laurent Art Sets Records | 2/24/2009 | See Source »

...rose (Cuckoos on a blue and pink carpet), which went for twice Christie's estimate. Similarly, a Constantin Brancusi sculpture valued at up to €20 million ($25,877,114) sold for €29,185,000 ($36,792,835). In all, more than 700 items are up for sale at the three-day auction, which Christie's believes could bring in as much as €300 million ($384 million). (See pictures from the auction...

Author: /time Magazine | Title: Saint Laurent Art Sets Records | 2/24/2009 | See Source »

...over the coming years. In 1979, two years before the record-setting 1911 Mattise would wind up in Saint Laurent's hands, Nahmad paid about $300,000 for the piece. Although he is sanguine about the market, the dealer, based in Monte Carlo, Monaco, was staggered by Monday's sale, which also netted records for Piet Mondrian (two of the Dutchman's paintings sold for eight-digit figures), Giorgio de Chirico, Marcel Duchamp, Paul Klee and James Ensor. "It was the most amazing auction I've ever seen," Nahmad said on the main floor just after the last lot sold...

Author: /time Magazine | Title: Saint Laurent Art Sets Records | 2/24/2009 | See Source »

...people's desires." Surprisingly, the only disappointment on Monday was that a late Cubist work by Picasso - Musical Instruments on a Table, which had the highest presale estimate, of some $30 million - went unsold. The Saint Laurent-Bergé auction continues on Tuesday and Wednesday with the sale of rare furniture and antiquities, including two Chinese animal heads that Beijing says were pilfered and must be returned to China. Earlier on Monday, a Paris court rejected China's bid to stop the sale...

Author: /time Magazine | Title: Saint Laurent Art Sets Records | 2/24/2009 | See Source »

...Indulgences (no relation here to bubble baths or truffles) have been part of Catholic doctrine since the Crusades. When the Church offered them for sale in the 1500s - call it mercy for money - religious reformer Martin Luther protested. These days, they can't be bought. "How does that MasterCard ad go?" muses Sister Mary Ann Walsh, spokeswoman for the U.S. Conference of Catholic Bishops. "Some things are priceless." (See pictures of Pope Benedict XVI visiting...

Author: /time Magazine | Title: Why Catholic Indulgences Are Making a Comeback | 2/22/2009 | See Source »

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