$1 trillion test for the art market: Here's what to know

Art Market Trends - The art market is hoping to end three years of decline with a big week of auctions [1] - Over $1.4 billion worth of art is expected to be sold at auction next week [2] - Increased supply of incredible works of art is coming up for auction [3] - Demand levels have been setting records, including bidders per lot and sell-through rates [3] Key Auction Items & Estimates - A Klimt portrait of Elizabeth Letter is estimated at $150 million [4] - Maurizio Catalan's solid gold toilet, "America," contains 220 lbs of gold, worth approximately $13 million based on gold prices [6] - The art market anticipates the gold toilet could sell for a multiple of its material value [7] Notable Collectors & Pieces - Works from the collection of the late Leonard Louder and Jay and Cindy Pritzker will be featured at Sibies [4] - Christy's will auction a classic Monet water lily and a Rothko painting [5] - Steve Cohen, a hedge fund manager, is rumored to be the buyer of the gold toilet [8] Contextual Information - The first gold toilet was at the Guggenheim in 2016 and was later stolen and melted down from Blenhan Palace in England [12] - Lower interest rates and a rising stock market are expected to boost demand in the art market [2]