Last week’s big auction sales in New York starkly reflect the problems of an almost overly robust art market: There are now so many wealthy buyers ready to throw their disposable income onto their walls that the auction houses are having trouble meeting demand with high-quality works. “Rich collectors are under no financial pressure to sell, and when they decide to do so they often have hopelessly unrealistic, some would say greedy, expectations of the prices they will get. This problem is compounded by the fact that three auction houses are now fishing in a pool where once only two cast their bait.” – The Telegraph (UK)