The Art Newspaper notes that despite increasing attention to the globalizing art world, the cities of London and New York still remain central hubs in the burgeoning market. “Around ten years ago, galleries looked for ways to be around the world. But people soon realised that the costs weren’t just financial,” says New York dealer Sundaram Tagore. “You don’t have to have multiple locations. Globalization has made it easier to bring collectors to New York and London, the art world’s original stomping grounds, and most of the important collectors already own homes there.”
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