The art market not only seems to have found its former self but may be in for a total makeover.

Last Wednesday night, Sotheby’s fetched approximately $190 million for 50 pictures. More about the Sotheby’s auction can be found here:

www.nytimes.com/2010/05/14/arts/14iht-melik14.html

The previous night Christie’s sold a Jasper John’s “Flag” for $28.6 million which was

On Monday, Lucia Eames, the daughter of the famous designer Charles Eames, perhaps best known for his classic design of plywood and fiberglass chairs, filed a lawsuit in an Illinois circuit court alleging that the family owns material which was planned to be put up on the auction block at the Wright Auction House in Chicago.

Artworks from Manhattan’s Berry Hill Galleries were seized after Berry Hill allegedly defaulted on a $9.5 million debt.  However, James Berry Hill,. the owner of the gallery, does not agree that the works were being "seized" but stated that they were simply being sent to a warehouse.

On March 30, U.S. District Judge Colleen McMahon had granted an application