News & Views

People belong to art!


Art market is booming. Finance analitics positioning art as one of the most promising assets in terms of investment in 2010-2011. International market of classical and contemporary art items is growing at an average of 25% per annum and experts predict that this trend will continue in the next 1-2 years.

London market of contemporary and classical art is breaking all sales records. Summer’s auctions - have shown excellent results, total sales for them estimated on the mark of £ 516,2 million The obvious market leaders were the Impressionists and Post-Impressionists. Total sales in this segment amounted to approximately £ 280 million.

The Postwar and contemporary art, recovering from a recession in 2010, in 2011 - showed almost magical healing. The level of sales in this segment has exceeded £ 236 million, indicating a growth of 102% over the same period last year.

An absolute leaders of sales, according to auction house Christies are: portrait of Francis Bacon and the landscape work of Peter Doig sold for £ 18 million and £ 6,2 million, respectively. Auction house Sotheby's says good sales of German artists - works of Sigmar Polk and George Bazelitts left auction for £ 5,7 million and £ 3,2 million relatively.

Discuss in Discussion group
News: << 15 of 18 >>