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Kimberly Ann Phoenix  

It does not seem like the scandal have had a negative affect on the art auction.  In November 2010 during the evening sale at Sotheby's the 49 lots sold for a total value of $222,454,500 (Ferreira).    The evening sale at Christie's of 70 lots had a value of $272,873,000.  The auction attracts big money and a group of buyers who like the thrill of the win.  In the art world the auctions at Sotheby's and Christie's are the place to be, as pointed out in the reading from Monday a good seat is a coveted thing, this has not changed since the scandal. The major players in the scandal have all moved on and not into hiding, Alfred Taubman has written his memoir.  At the book signing release he was surrounded by powerful people (Peers).  Patricia Hambrecht is a mover and shaker in the jewelry world (Peers).  DeDe Brooks retired to her Florida home but had recently been spotted at art auctions (Peers).   Christopher Davidge is living well partly because of the severance package he received and moved on to speculating in contemporary Asian painting (Peers).  The auction house is just one more way that people with money can purchase contemporary art work.  Those with connection and relationship with dealers can purchase from the galleries other prefer the auction.  The Auction houses have been around for over 200 years and if the resent sales are any indication they will still be around for a long time.  

http://findarticles.com/p/articles/mi_qa5377/is_201103/ai_n57241264/

 http://nymag.com/arts/art/features/30620/