Lackluster bids at art auctions

On Day 2 of the fall auction season in New York, a Russian masterpiece expected to sell for up to $3 million at auction did not find a buyer Wednesday, further underscoring the impact of the global financial crisis on the art market.

Not one hand went up when “View of St. Petersburg” by Alexei Petrovich Bogoliubov was offered at Sotheby’s morning sale of important Russian works from the Impressionist and Modern periods.

Many other works sold at or below their pre-sale estimates; others did not sell at all. It was the second day of lackluster bidding at the annual fall art season.