Collecting
The Spread Between New and Blue-Chip Art Is Narrowing
The final marquee auctions this month have seen a shift in supply and demand—and maybe even taste.
Vincent Van Gogh’s The 'Laakmolen' near the Hague (The Windmill), sold for $2.5 million.
Source: Sotheby's
Drawing market trends from art auctions is always tricky.
Auction houses are middlemen at the mercy of both the seller, who provides or withholds supply, and the buyer. As a result, a very good or very bad sale has more to do with the specific objects that auction houses can wrangle, rather than the overall strength of the market.