Reassurances The Art Market Is Still Expanding?

About last week’s auction sales: For these marquee New York sales, $2 billion seems to have become the figure that reassures a wider world that top end of the art market is humming, if not actually booming. Last week, that feel-good figure was achieved with the help of material not normally seen in Impressionist, modern and contemporary sales. Prices were also propped up, wherever possible, with hundreds of millions of dollars in financial guarantees.