Global art market rises in value by 17 per cent to record $8.7 billion
Published on Aug 6, 2014 11:28 PM
PARIS (AFP) - The global art market rose in value by 17 per cent to a record US$7 billion (S$8.7 billion) in the first half of 2014, according to new industry figures.
Artprice, a French company which tracks art sales worldwide, said that during the first six months of the year, art works sold at public auction totalled US$7.15 billion, up on US$6.11 billion for the same period in 2013.
“The art market is hungry,” Thierry Ehrmann, Artprice’s president and founder, told AFP.
“We have gone from 500,000 collectors in the post-war period to nearly 70 million ‘art consumers’ – art lovers and collectors – worldwide,” he said.
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