The May Art Auctions Will Feature Fewer Works, Bigger Price Tags.

(Bloomberg Businessweek) -- After November's unprecedented New York auctions, which included the standalone Paul Allen estate sale ($1.5 billion spent on art in about three hours), almost everyone agreed the market needed a break. As a result, the coming May evening sales - widely considered the companion to the November sales in scope, price and quality - will be a comparatively subdued affair, auction house specialists predict. [Extracted from the article]