Us-spring-art-auctions

NEW YORK - Pieces by Pablo Picasso and Alberto Giacometti sold Wednesday for more than $7 million each at an auction of impressionist and modern art, showing that collectors still are willing to spend despite the global recession, the Christie's auction house said.

NEW YORK - A Pablo Picasso painting of his young daughter and an Alberto Giacometti sculpture of a cat, each estimated to sell for $16 million to $24 million, failed to find buyers at auction Tuesday as the art world struggles with the global financial crisis.