The media has widely reported that an art market rebound is in the cards this May when Christie's, Sotheby's, and Phillips de Pury hold their major Impressionist, modern and contemporary art auctions in New York.

Beginning today, a two-week series of sales at these three auction houses alone could tally at least $803 million—twice as much as they sold last May but still off their $1.4 billion total two years during the market's peak.

At Christie's, a rare Edvard Munch masterpiece may exceed $25 million.