Eye-watering prices

Dutch art fair organiser Tefaf last valued the global art market at US$45 billion (S$60 billion) in the 2017 Tefaf Art Market Report. In the contemporary art market, just 25 artists accounted for nearly half of public auction sales, reported artnet. This has been called a "winner takes all market" as a disproportionate amount of money is concentrated in a small number of pieces. Here are three pieces in the world of art and antiques which have fetched eye-watering sums.

This elaborately decorated 18th-century Chinese porcelain vase was discovered during a routine house clearance. Mark Rothko's oil on canvas painting Orange, Red, Yellow. PHOTO: BLOOMBERG


Thank you for reading The Straits Times

You have reached one of our Premium stories. To continue reading, get access now or log in if you are a subscriber.

What is Premium?

A version of this article appeared in the print edition of The Straits Times on June 16, 2018, with the headline 'Eye-watering prices'. Print Edition | Subscribe