BizNis Africa | Philip Faure:
Price movements in the global art market have been volatile in 2016, though certain sub-sectors continue to settle the nerves of investors. At the very top of the mega priced is a clutch of artworks whose value-meter clicks ever upwards, mostly justifying its pick as an investment of super-merit.
According to Knight Frank’s 2017 Wealth Report art declined 14% to the fourth quarter of 2016, yet is still up 139% over ten years. Many genres fared less well than paintings, which recorded higher than expected prices towards the end of the year…read more
Image | Image source | Christie’s sold one of Claude Monet’s Grainstack paintings for US$81m