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Last November, the auction world let out a sigh of relief after the strong sales in New York. And while the intervening months have been fairly tumultuous politically, an optimistic vibe remains. The recent American art and Old Master sales in the city were also solid, and validated the idea that collectors have turned toward historical art in a meaningful way. But the market won’t feel like it truly has momentum until the central categories—modern and postwar art—put up numbers that confirm a depth of demand.
