Saturday, March 14, 2015

Art foundation reports that art market sales are on the rise

THE NEW YORK TIMES

Higher art prices and a greater number of transactions pushed global art market sales up 7 percent last year to 51.2 billion euros (about $68 billion at an average exchange rate for the year), according to the annual report for the European Fine Art Foundation, published Wednesday. The market continued to be dominated by three main regions, the United States, China and Britain. Clare McAndrew, the author of the report, said the postwar and contemporary sector continued to be the most popular in terms of value. [link]