Are We Looking at a New Art Bubble?

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A contemporary art auction at Christie's in New York Tuesday night exceeded the highest estimate of $330 million, bringing in a whopping $388.5 million and firmly establishing a new contemporary art boom that looks suspiciously familiar. It was the highest total amount ever in the field, The New York Times' Souren Melikian*reports. One painting in particular, Mark Rothko's Orange, Red, Yellow ...

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