Art for Sale, No Introduction Needed.

FOR decades now auction houses have sold challenging works of art. There have been arcane, ancient sculptures, canvases by little-known artists and bizarre objects like glass cabinets filled with medical supplies or cigarette butts. But at Sotheby's, Christie's and Phillips de Pury, the art for sale at the big auctions this season, beginning Tuesday, requires little thought. Even those without much knowledge of art history will recognize Andy Warhol's haunting self-portrait with his spiky fright wig or Jeff Koons's lovable sculpture of a Pink Panther being hugged by a buxom blonde or the classic pink-and-red abstract canvas that shrieks Mark Rothko. These instantly recognizable images spell ''wall power,'' a well-worn art-world phrase that describes an artwork that telegraphs its owner's wealth. Often these trophy purchases are flaunted in the entrance of a McMansion or over a living-room fireplace or in an office-building lobby. Sometimes, however, prized art will disappear into private collections where their superrich owners show them off to only their superrich friends. [ABSTRACT FROM AUTHOR]