(From: ArtFixDaily) Exceptional beauty, rarity, and historical significance are among the factors that drive collectors to compete furiously for art, antiques and collectibles at auction. Sentimental value and investment purposes motivate some buyers. Deep in the throes of a global recession, the world's wealthiest collectors sent segments of the auction market to astounding record price levels in 2010.
Works by modern masters marched above the $100 million mark. First, Swiss sculptor Alberto Giacometti's "Walking Man I' strutted over $104 million before being usurped by Pablo Picasso's "Nude, Green Leaves and Bust" which sold at Christie's in May for $106.5 million, making it the most expensive artwork ever auctioned.
Numerous artists achieved auction records, and multiple categories soundly broke previous records, among them, 20th-century art, rare books, diamonds, wine, Australian art, English furniture, New York furniture, and Chinese works of art.
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