Edward Hopper's famous portrait of economic hardship has just become the new symbol of unbridled wealth.» Read More
Brokers say there are now at least a half dozen homes and estates in the Hamptons that are renting for around $1 million—just for the summer—a new record.
A huge diamond unearthed in Botswana commanded an unearthly price of $26.7 million from Christie's auction house Wednesday amid the spring ritual of well-heeled bidders flocking or phoning in to Geneva's luxury sales.
Michael Novogratz of Fortress Investment Group said the art market is "100 percent a bubble," and he predicts it will be the next gold.
The world's largest auction houses will host "blockbuster" sales of contemporary art this week, as buyers' tastes shift away from pre-19th century "Old Masters", a fine art expert told CNBC.
What are art lovers interested in this spring? A peek at the billion dollars worth of art on offer at Christie's and Sotheby's.
A nearly 75 carat diamond's sale at Sotheby's offers further evidence of the roaring bull market in hard assets.
A rare Chinese bowl bought at a tag sale for $3 has sold at a New York auction for more than $2.22 million.
As the spring art season gets underway with art fairs in New York this week, the hunt for big trophy art pieces is especially fierce.
Check out which companies are making headlines after the bell Thursday:
Sotheby's staged the biggest auction in its 268-year history on Tuesday, led by a $75 million Mark Rothko and a record-setting $40 million work by Jackson Pollock at its post-war and contemporary art sale.
NEW YORK-- A silver paperweight that President John F. Kennedy gave to Secretary of Defense Robert McNamara after the Cuban missile crisis sold for $95,500 at an auction Tuesday of McNamara's personal effects, Sotheby's said. McNamara, who died in 2009, served as the head of the Pentagon from 1961 to 1968, first for JFK and then for President Lyndon B. Johnson.
The silver and wood-framed memento was given by President John F. Kennedy to Secretary of Defense Robert McNamara to mark the October 1962 Cuban missile crisis. Sotheby's is opening the collection for public viewing on Tuesday, and the auction is scheduled for Oct. 23.
LONDON-- A Gerhard Richter painting owned by Eric Clapton has sold for 21.3 million pounds, handily beating pre-sale estimates and setting a new auction record for the German abstract artist.
LONDON, Oct 12- Christie's raised 41.2 million pounds from its combined London sales of post-war, contemporary and Italian art late on Thursday, towards the lower end of pre-sale estimates and down on the equivalent auctions of 2011..
NEW YORK, Oct 9- Small- and mid-capitalization stocks fell o n Tuesday, with shares of Super Micro Computer Inc. Shares of Super Micro Computer were down 11.7 percent at $9.39 after it said revenue for its first quarter will be at the lower end of its forecast. Third-quarter results for S&P 500 companies begin after the bell with a report from aluminum company Alcoa.
HONG KONG, Oct 9- Sotheby's sold HK $2 billion worth of Asian and Chinese artwork and luxury goods in its autumn sales in Hong Kong on Tuesday, a 37 percent decline from the same period last year as the market consolidates on a weaker China economy. The tally was also some 18 percent less than the $316 million Sotheby's sold in its Hong Kong spring sales.
HONG KONG-- Chinese and international auction houses are encroaching on each other's territory in Hong Kong and Beijing for the first time this autumn sale season as they step up the battle for the Asian art market. China Guardian Auctions Co. held a small sale of Chinese ink paintings, calligraphy and furniture last weekend in Hong Kong.
NEW YORK-- Christie's will inaugurate its long-term partnership with the Andy Warhol Foundation to sell its collection with a daylong sale next month. It includes a Polacolor print of Liza Minelli estimated to sell for $15,000- $20,000. There's also a screenprint of Vladimir Lenin with a pre-sale estimate of $40,000- $60,000.
*On sept26 Beijing Commerce commission completed its review of and approved.