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Home»Art Stocks»Billionaire `Outbid on Everything’ With Art Steadier Than Stocks
Art Stocks

Billionaire `Outbid on Everything’ With Art Steadier Than Stocks

November 15, 20181 Min Read

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Buyers have spent more than $1.4 billion during the first four days of a week-long marathon of art auctions in New York, undeterred by wobbly stock markets, Brexit angst and global trade tensions.

They plunked down more than $1 billion during the first three days of sales that started Sunday, snapping up historic paintings by Pablo Picasso, Rene Magritte and Edward Hopper, and an additional $362.6 million on Wednesday at Sotheby’s contemporary art evening sale, a 17 percent increase from a year ago.

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