Recap: A new breed of investor is buying art - Yazzy's at www.williamverdult.com - Yazzy's at WilliamVerdult.com Features - Yazzy's | Williamverdult.c

Recap: A new breed of investor is buying art - Yazzy's at www.williamverdult.com - Yazzy's at WilliamVerdult.com Features - Yazzy's | Williamverdult.com Official Website, Orginals, Lithographs, : "Recap: A new breed of investor is buying art - Yazzy's at www.williamverdult.com Tow The MarkGOING, going, gone. Sotheby's set a record total for a contemporary art auction this month, raising $254.9m in one night, including the highest amounts ever paid for 15 individual artists. But within 24 hours that figure was smashed by Christie's, its rival, with a $384.7m buying binge, including 26 artist records. “There's a mood of speculation that I have never seen before in my 50 years in the business,” says Richard Feigen, a veteran Manhattan art dealer. An Andy Warhol piece, Green Car Crash (Green Burning Car I), fetched four times the previous high for a work by the mop-headed guru, set just last November. One way of looking at high art prices is as part of a global wave of liquidity that is pushing up asset prices everywhere. “From Indian antiquities to modern Chinese art; from land in Panama to Mayfair; from forestry, infrastructure and the junkiest bonds to mundane blue chips; it's bubble time,” says Jeremy Grantham of GMO, a fund-management group."