Fine Art

renoir2In Paris tomorrow there is an interesting sale of early modern art from the Jeanne Lanvin Collection.  There will be nine Renoirs on offer, along with four by Degas, a couple of Mary Cassats, a Braques, a Pissaro, a non-abstract Picasso, and a dozen more.

Renoir’s lovey La tapisserie dans le parc has the highest pre-sale estimate at $3.2 to $4.5 million, while 28 of the 31 lots have estimates below $1 million.   If this sale has the kind of problems experienced by the auctions earlier in November, then the art market will truly have hit a downturn.  These are fine works of art, well priced given the price explosion experienced before the global financial crisis burst into view, and they deserve to sell.

We’ll see.

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