Recession? What recession? Plenty of cash is flowing into the art market, and sales records have been set in the depths of the economic downturn. Now, with Picasso's "Nude, Green Leaves and Bust" garnering a record price, has the market recovered?
Christie's International says expects to have a better year in 2010 than it did in 2009. Yet there are degrees of recovery: Though the practice of guaranteeing minimum prices is poised to return, sellers won't see a swift return to the prices objects fetched at auction in 2007.