Gloomy: What was the last time you saw a headline that called a Picasso a "flop"? Thanks, Bloomberg News -- this article chronicles last night's Sotheby's sale of some important Impressionist and modern art, including a painting by the famed Spaniard that was left unclaimed at night's end. As the top lot, the painting was put under the hammer at an estimated $24 million.
Gloomier: The painting was reportedly the former holding of William Achenbaum, a New York real-estate developer who is listed by a filing in U.S. Bankruptcy Court as an investor in Bernie Madoff's Ponzi scheme.
Gloomiest: The total draw for the auction house was not only well below its conservative estimate of $81.5 million; at a $61.4 draw, it was also the lowest tally since its first post-9/11 auction, in November 2001, which drew a scant $33.1 million.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
