New York auctions paint somber picture of Chinese art buyers

REUTERS | Elizabeth Dilts:

Along with oil, stocks and steel, China’s roiling economic slowdown has deflated the buoyancy of another sector: the Asian Art market. Wealthy Chinese art collectors had driven art sales skyward in recent years for Chinese and Western art, such as the Modigliani nude that was bought by an anonymous Chinese buyer last year for $170.4 million, the second highest price ever paid at auction… Read more