There are many ways to gauge the economic recovery... But surely one of the best is the $40,000 fetched recently by Columbia Grammar School for a nautical-themed mural panel, made by some of its youngest students and sold at its annual benefit auction.

Every spring, schools across the city hold benefit auctions to beef up their coffers, allowing another year of scholarships, school upkeep and general expenses to be met. The affairs range from the folksy - dance parties in the school gym - to the elaborate - a night at Cipriani - and pull in anywhere from just less than $20,000 to more than $600,000..."