London's Impressionist & Modern Sales

London's June Imp-Mod market is in a tough spot; Is Dan Loeb master-minding the Sotheby's sale? China's museum building boom has no incentives for building collections.

The Impressionist and Modern Evening sale results last week did little excite the market. The lopsided tally between Sotheby’s and Christie’s was hardly the biggest problem. Neither house saw the kind of bidding that might encourage buyers or sellers to anticipate the next round of sales. Even though we know that there are serious buyers for Impression…