Spring Auctions To Test Prices of Picasso, Monet & Warhol

04/29/2011 04:25 pm ET | Updated Jun 29, 2011
  • KELLY CROW wsj.com

The rapidly rebounding art market faces a critical test next week in New York, when auction houses will try to sell a mix of Impressionist, modern and contemporary works valued at nearly $1 billion. A dozen works are each priced near $20 million. In the 2009 spring sales, when the art market was limping along, not a single piece fetched that benchmark price.

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