Art Market Mines Gold on Instagram

www.nytimes.com

Speaking of Instagram, here's Scott Reyburn looking into the world of high-end art selling on the network:

Christie’s declined to comment on the Basquiat, though it would technically regard it as a private sale, rather than an online transaction. But Mr. Gorvy, who is now a partner in the newly branded Lévy Gorvy dealership, said, “From the buyer’s point of view, this was a total Instagram sale.”

The Basquiat in question sold for $24 million. Feels like that could be another interesting little business for Instagram!

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