End of boom years signaled by London auctions

The Art Newspaper | Anny Shaw:

Phillips and Sotheby’s sales come in short of estimates—but those in the trade call it a healthy correction. Against a backdrop of global stock market woes and tumbling oil prices, the first two auctions in London this week signalled that the post-war and contemporary art market has—for the most part—lost its sizzle… Read more

Image: Exceptions to the rule: Some the few works to go over estimate were Lucian Freud’s painting of his pregnant teenage lover (left) and a large painting after Van Gogh’s sunflowers by the young Romanian artist, Adrian Ghenie (centre)