http://www.bloomberg.com/news/2011-06-19/big-spenders-lift-contemporary-art-back-to-peak-at-1-8-billion-basel-fair.html
The year’s biggest test so far for contemporary art dealers, in Switzerland, ended with galleries saying that demand and prices have returned to 2008 levels.
The spree marks a return to the peak of the boom that ended in 2008. Prices of some artists fell by as much as 50 percent with the crisis following the Lehman Brothers collapse.
The market is deeper and broader now. It’s a symptom of the growing gap between rich and poor.”
The year’s biggest test so far for contemporary art dealers, in Switzerland, ended with galleries saying that demand and prices have returned to 2008 levels.
The spree marks a return to the peak of the boom that ended in 2008. Prices of some artists fell by as much as 50 percent with the crisis following the Lehman Brothers collapse.
The market is deeper and broader now. It’s a symptom of the growing gap between rich and poor.”
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