Art as commodity - Fall 2006 NYC Contemporary Art Auctions: The New York City auction house Christie's Fall sale of Contemporary Art included a work by Zhang Xiaogang, 'A Big Family Series No. 16,' which was acquired by a telephone bidder for $1.36 million, surpassing its highest estimate. The international art market is experiencing a staggering growth period: the combined sales of Christie's and Sotheby's in New York of contemporary, impressionist and modern art totaled around $1.3 billion, surpassing records set during the early 1990ies before the the art market crashed. New York City, November 15, 2006. (KEYSTONE/CAVAN IMAGES/Katja Heinemann)
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