Superstorm Sandy notwithstanding, New York hosted major auctions in the past two weeks that saw impressive sales. Claude Monet's famous water lily paintings sold for US$43.7 and a painting by Wassily Kandinsky for $23-M, a record for the Russian artist, the BBC reported. Quoting Reuters, BBC said that 30% of the 69 paintings up for auction failed to find buyers. Still, it's been an impressive sale. The works of Picasso ($13M) and Miro ($13.7-M) were also sold. BBC said some experts have warned that the disparity between art values and the broader economic situation cannot continue. But not for now. Sotheby's just opened its auction in New York, which was delayed by 3 days due to Sandy.
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