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New and Asian buyers propel Christie's art sales to record high

Published on Jan 23, 2014 6:09 AM

LONDON (REUTERS) - Christie's art sales surged to a record high of 4.54 billion pounds (S$9.5 billion) in 2013 as new buyers and rising Asian demand contributed to a buoyant art market in a fragile global economy.

Sales at the London-based auction house rose 16 per cent from 2012, Christie's said on Wednesday, helped by a push to attract Asian art collectors that included the company's first auctions in China and India in 2013.

Traditional markets in Europe accounted for 54 per cent of last year's buyers with another 30 per cent from the Americas.

Asia's share was almost 16 per cent and Chinese buyers increased their art spending by 63 per cent on 2012.

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