Art Market Update

The Economist report. When art prices fell, auction houses struggled to attract sellers. Collectors faced with death, divorce or debt—three common reasons for selling—still consigned their works for auction. But discretionary selling fell back sharply. With the memory of the record prices of 2007 still fresh in many collectors’ minds, the question they asked themselves was “why sell if you don’t have to?” Spot on.

Useful links:
www.sothebys.com
www.christies.com