Bang and Fizzle: How it’s easier to sell something for $100m than for $1m

http://www.economist.com/displayStory.cfm?story_id=16083786.

May 8th 2010

“RECORD prices make big headlines. And they don’t come bigger than the story of Christie’s sale in New York on May 4th in which eight private collectors, including one Russian and another from Asia, fought over a richly coloured portrait Pablo Picasso painted of his young mistress during an unusual spurt of creativity in the spring of 1932, when he was 50 years old.”

An interesting look at why works with a higher price tend to attract more potential purchasers.

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