New York auctions aim to revitalize art market with high-value sales, including Magritte's $95M "Empire of Light."

New York's auction houses are hosting high-profile sales this week to revitalize the slowing art market. Christie's will auction Magritte's "Empire of Light," estimated at $95 million, to break the previous record. The market has dropped from $4.1 billion in 2022 to $2.1 billion in 2024. Sotheby's is selling Monet's "Water Lilies," expected to fetch $60 million, and Cattelan's "Banana Taped to the Wall," priced at $1.5 million.

November 17, 2024
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