Article: Market review: February's Impressionist and modern sales in London saw German expressionists take their turn to break records. Meanwhile, the inaugural art and antiques Dubai fair got off to a good start and Banksy did unexpectedly well in New York.(THE ART MARKET: NEWS, ANALYSIS AND PREVIEWS FOR COLLECTORS)(England)

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At the February sales in London it seemed that the appetite for major works of art had never been greater or more global--and that the auction estimate was well-nigh redundant as an indicator of value. It seemed, too, that the price chasm between the best and the rest is widening, a factor which may explain the number of over-priced bought-in lots.

This season it was Sotheby's that seemed best to gauge the mood and taste of the day, with its tight and perfectly pitched Impressionist and Modern Art evening sale of 5 February, which realised a record 166m [pounds sterling], the auction-house's highest ever sale total in Europe. Whereas Christie's ...

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