A Wealth of Art

The Friday File: In a sign of how well the super-rich are doing, a recent contemporary/postwar art auction netted $692 million, breaking the record of $495 million set in May. A triptych by Francis Bacon went for $142.2 million, a new record for artwork sold at auction, shattering the former record of $120 million for Munch’s “The Scream”. The huge price increases show how fast the one-hundreth-of-one-percenters are accumulating wealth.

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