NEW YORK — Six months after the record was set for the most expensive painting in auction history at the biggest-ever sale of art, eyes are trained on New York's upcoming auctions for signs of whether the boom will continue or the bubble will burst.With some $1.5 billion worth of Impressionist, modern and contemporary art hitting the block at Sotheby's and Christie's over the next two weeks, the stakes are high for the two arch rivals as they strive to tap a market characterized by insatiable demand and deep pockets. "The auctions are getting bigger and prices are getting bigger. But it makes sense, what they're growing to," said Alex Rotter, Sotheby's co-head of worldwide contemporary art, adding "It's a market driven by quality." All eyes on $1.5 billion of art under the hammer in New York.
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Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University
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