MDC says that each May in New York City, the art world holds its equivalent of the World Series; The Impressionist and Modern Art evening sales. Sorry for the late post, but the Rich People utilize art for a hedge with their money.
The current record price was paid for The Card Players by Paul Cézanne, which was sold for more than $250 million in 2011.
MDC says, Pablo Picasso is the MVP of the art sales world. Hundreds of Picasso’s are traded every year, between 2005-2011, his works earned more than $2.1 billion at auction.
There are currently over 25 Picassos in private hands that have the potential of meeting or beating the sums fetched by Boy with a Pipe, Dora Maar with Cat, and Nude.
Picasso demonstrated extraordinary artistic talent in his early years, painting in a realistic manner through his childhood and adolescence. During the first decade of the 20th century, his style changed as he experimented with different theories, techniques, and ideas. His revolutionary artistic accomplishments brought him universal renown and immense fortune, making him one of the best-known figures in 20th-century art.
Source = wikipedia