The Artist's Daughter & A Boat

On one hand there's continuous talk about economic crisis & recessions, still. And on the other hand, there are luxury acquisitions that cost millions and multimillions people are happy and willing to pay for, just to have them on their walls, on the shelves, or simply locked in the safe or a bank vault, and only once in a blue moon take a peep at it/them to assure themselves that they are indeed the proud owners of such enviable rarities.

One thing is obvious, the auction houses all seem to complaint about the dwindling of business. Many people have changed the strategy and now prefer to buy or sell art objects privately, bypassing the middleman must mean a great saving on both the buyer and the seller's pockets. According to the collective, the most valuable objects are scarce in the market as owners of these wish to wait for better times to get the full value of the treasures' worth. The private sales are also quicker, cheaper and more discreet as they also don't want their friends to know they are at hard times having to resort to selling their collections.

Some of the reputable auction houses, like Sotheby's and Christie's, no longer guarantee the seller a minimum price, as they used to do. What is more, if the announced and displayed object did not find a buyer it's value depreciates automatically in any future sale.

Picasso's work is keeping it's demand and value though. The following piece titled 'The Artist's Daughter And A Boat' did not find a buyer, but his 'Musketeer' was sold at 10,9 million Euro. Probably equivalent to a whole months food for the entire hungry Africa.

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