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OUR COLUMNIST VSOCOLSKY COMMENTS ON THIS WEEK’S AUCTION RECORDS:

‘After Bacon’s record $142 million on Tuesday at Christie’s. I wanted to see how far Mugrabi would go in his quest for the Silver Crash, and how Sotheby’s would manage to overshadow Christie’s performance, especially after Loeb’s strong pressure on CEO Ruprecht to obtain better revenues. It is clear to me the whole auction business has become a financially engineered instrument to please hedge funds.’

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