A 1981 Andy Warhol portrait of felon-baron Conrad Black sold for $240,000 yesterday. The Los Angeles art dealer who bought it, however, had no idea who Black was when he started bidding. Ouch. Though really, it's probably far more useful to recognize a Warhol than a Black, especially considering you won't be seeing much of the latter for the next 15-30 years. Stay tuned for Black's sentencing date, postponed this morning by 10 days to December 10.

Bruce Wolmer, 59, the editor emeritus of Art & Auction, died on Friday. The New York Sun remembers him as "a defender of Israel." Artnet.com remembers him as a man who "could not help genuflecting to the specialized brand of the rich and powerful who inhabit the art world."