Friday, May 16, 2008

Warning to collectors

As a postscript to our last post (and in the meantime a Francis Bacon has been knocked down for $US86 million) the Kaufmann house we posted on when we were in Palm Springs last year, was sold at the same auction for $US15 million. That’s nearly six of Richard Neutra’s masterpieces for one painting. The warning? Get out of real estate.