Oil Paintings, Art and Wall Decor Blog

The world’s greatest art collectors met in London for the annual spring auctions of Impressionist, Modern and Contemporary Art.

Unlike past years, conservative taste dominated the new rich of Europe and Asia, some might call them trophy hunters. Instantly recognizable names such as Modigliani and Picasso took center stage and grabbed the most interest.

According to the New York Times, some experts say the auction results were good news for the art world. “The market is showing a return to reason,” said James Roundell, a London dealer. “After years of escalating prices for artists barely out of school, Impressionist paintings are suddenly back in vogue.”

The rejuvenated interest in the Impressionistic and Modern art comes after the big numbers paid for contemporary art in recent years. Now, the Old Masters works seem like bargains.

The works that grabbed most of the attention were a Modigliani 1919 portrait of the artist’s mistress and muse that sold for $30.1 million. An 1895 Degas pastel sold for $12.4 million. A flowery Renoir landscape from 1873 sold for $9.1 million. An 1881 Cézanne landscape was sold for $7.6 million. The top modern piece was a 1969 Picasso, “Seated Man With a Pipe and Cupid.” The hammer fell at $7.1 million.