Art Auctions Go High-Octane: Picasso, Monet, and Ferrari Drive Monster Sales

New York's major auction houses, Sotheby's and Christie's, are gearing up for their autumn sales, aiming to move billions of dollars' worth of art and a rare Ferrari. Sotheby's is expected to come out on top with its sale of a US$120 million Picasso painting and the collection of wealthy art patron Emily Fisher Landau, which could net around US$400 million. Christie's is offering a range of high-value lots, including a Monet painting and a prized Rothko canvas. Additionally, RM Sotheby's will auction a 1962 Ferrari 250 GTO, expected to fetch over US$60 million. The art and luxury goods market remains strong, driven by China and showing no signs of slowing down.