BLOOMBERG | Katya Kazakina:
The global art market contracted for the second straight year in 2016, falling to the lowest level since the financial crisis as economic and political volatility weighed on auction sales.
Sales of art and antiques dropped 11 percent to $56.6 billion, according to a report released on Wednesday by UBS Group AG and Art Basel. The decline, on top of a 7 percent slide in 2015, wipes out the gains seen in 2013 and 2014, when sales reached an all-time high of $68.2 billion… Read more
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