Total sales at China’s largest auctions houses more than halved last year, showing major instability in what was by some reports the world’s largest art market. The slowdown in sales may not augur well for the global market, which has looked to China to mask reduced buying in the Western hemisphere. “Certain factors, including political uncertainty, did see buyers press the pause button.” says Steven Murphy, the chief executive of Christie’s.
Read more at The Art Newspaper
