"Shortly after 10am on an April Sunday,eager auction-goers began bidding on more than 1100 items--paintings, furniture, decorative pieces and vintage couture--that London-based auction house Bonhams had put up for sale in its Los Angeles showroom. An image of a Jules Lefranc oil painting depicting Parisian rooftops with the dome of Sacre Coeur cathedral in the background was projected on two Sony flat-screen TVs at the front of the room. 'Let's open the bidding for this item at $350,' announced the auctioneer, a rosy-cheeked woman with frosted blond hair. Immediately, a prospective buyer discreetly raised her paddle to bid on the painting, valued between $800 and $1200 (all dollars are US). 'Three-fifty in the back,' the auctioneer called. 'Let's go to four.' Another bidder raised his paddle. 'Four hundred in the centre of the room. Go $450,' the auctioneer called..."
