CNBC has a piece on the upcoming auctions next week, forecasting a potential surge in market strength after several sluggish quarters as Sotheby’s Tad Smith points out that the art market may be poised for structural growth over its usual cyclical patterns. “The median member of the Forbes 400 would have seen his personal spending power to purchase art at auction grow 75 percent in the past decade alone,” Smith said during his call with investors this week.
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