• Image by Tracy O via Flickr/Creative Commons Attribution 2.0

Despite all the crumbling going on with America’s economy these days, our high-end art market is doing quite well(as it can ensure the safety of money during the crisis), as the New York Times reminds us today in an article about Christie’s latest contemporary art sale. Among the pieces going for beaucoup bucks was a purple-centric 1973 portrait of Chairman Mao Zedong that sold for $11.1 million. The owner was Stefan T. Edlis, a retired plastics executive and big-time local collector who serves as secretary of the the Museum of Contemporary Art’s board of trustees. Edlis seems to be quite the collector of Warhol’s work: In 2007, he sold a Turquoise Marilyn for at least $80 million, making it one of the world’s most expensive paintings ever.