To think about the recession is to think about the ultimate misery for many people. However, Sotheby’s did rake in a lot of money thanks to Lehmann Brothers, whose art collection garnered a total amount of $12.28 million at New York on Saturday.
It was when the Lehmann Brothers declared bankruptcy that the entire economy of the world came crashing down. Thus, to appreciate art that was left behind by their legacy of economic turmoil could be too hard to digest for many.
On the flipside, it shows that no matter what the economic condition is, art never loses its value and in fact gets more priceless with each passing year or era. 17 records for artists, including Julie Mehretu were on sale. Only an early piece by British art darling Damien Hirst did not sell. “Untitled 1,” by Julie sold for $1,022,500 and it sure deserves the kind of money that it was bought for. If you have priceless art in your mansion, do think twice. Selling them now may not be a great idea for it could fetch a bigger fortune a few years down the lane!