Price movements in the global art market were volatile last year, although certain sub-sectors continued to settle the nerves of investors. At the very top of the mega-priced was a clutch of artworks whose value-meters clicked ever upwards, mostly justifying them as investments of super merit.
According to Knight Frank’s 2017 Wealth Report, art declined 14% to the fourth quarter of 2016, yet was still up 139% over 10 years. Many genres fared less well than paintings, which recorded higher-than-expected prices towards the end of the year. November’s New York sales, which traditionally mark the end of the auction year, attracted strong bidding…read more
Image | Pablo Picasso | Guernica