The Financial Times looks at the enormous final sale prices achieved this year at auction, and questions where the art market is headed in the future. Deep pockets and an increasingly deep market pool have led to growing sales, and a number of art fairs springing up to meet the demand. “In sheer defiance of other global economic trends, or perhaps because of such trends, there is an unprecedented flow of money into the art market. For some, this could represent a flight of capital from other conceivably more unstable harbours to comfortably park one’s wealth,” says dealer Edward Tyler Nahem.
Read more at Financial Times