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The transformation of London, a sleepy backwater for two decades, into an art capital that rivals New York has never been more apparent than in this past fortnight of auctions, with record prices fetched for works by artists ranging from Monet to Francis Bacon.
The weak dollar has made London an attractive place for Americans to sell. This city has also gained cachet as the stomping ground for rich denizens of the former Soviet Union, like the Russian billionaire Roman Abramovich or the Ukrainian steel magnate Victor Pinchuk, both serious art collectors.
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The weak dollar has made London an attractive place for Americans to sell. This city has also gained cachet as the stomping ground for rich denizens of the former Soviet Union, like the Russian billionaire Roman Abramovich or the Ukrainian steel magnate Victor Pinchuk, both serious art collectors.
Discuss Add this link to... Bury
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