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So everyone knows that the art world's in the doldrums, that even deep-pocketed collectors are holding off buying, and that the only reason people even show up to art openings anymore is to quaff the free champagne. But you'd think that a seven foot-wide portrait of a smirking Bernie Madoff, priced at a mere $100,000, would have some takers, right? Strangely not: Disappointingly for the artist Yan Pei-Ming, his masterpiece, on sale at the Armory Show which kicked off yesterday at the West Side Piers, has so far attracted no interest.

Among the many who attended last night's preview to browse rather than spend: Bill Mack's wife Phyllis, John McEnroe, Sofia Coppola, and Dave Ganek's wife Danielle. The evening wasn't a complete washout, though: While business was predictably slow, there was a "smattering" of sales and a few works put on hold. But needless to say, if you head over to the fair this weekend, you'll still be spoiled for choice—and may be able to negotiate a discount on the rare opportunity for the face of evil to grace your living room wall!

Smirking Madoff Portrait for $100,000 Finds No Buyers at Armory [BN]