Joseph Mallrond William Turner, Heidelberg With a Rainbow, via Sotheby’s

It was an unpredictable time for the art auction this past week, as collectors descended on New York City  for Christie’s and Sotheby’s spring auction of Old Masters and Renaissance art work last week, driving up prices on a number of works while other pieces failed to command bids.

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A Sandro Botticelli painting, estimated at $9.5 million, may alleviate a portion of the losses suffered by the victims of Lawrence Salander‘s art fraud, the largest in New York to date.

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