Weak Dollar Fuels Art Boom

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The shrinking value of the U.S. dollar is encouraging buyers from abroad — including China and the Middle East — to shatter records for art sales at U.S. auction houses. Modern works are especially hot. Recent sales include an Andy Warhol painting that sold for more than $71 million.

STEVE INSKEEP, host:

The weak dollar and high foreign demand are boosting another market. And so, our last word in business today is art boom.

Buyers from places like China and the Middle East have been helping shatter records at auction houses in the U.S. Recent sales include a Matiste(ph) that brought in more than $33 million and an Andy Warhol painting that sold for more than 71 million. It's called green car crash. It's actually a picture of a car crash, not a comment on the weak dollar.

And that's the business news on MORNING EDITION from NPR News. I'm Steve Inskeep.

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