Is the Art Market Gaining Traction?

Breaking the record for the sale of art at an auction, an unidentified buyer purchased “Walking Man 1” by Alberto Giacometti (see image at http://www.suite101.com/view_image.cfm/499373) at a Sotheby’s auction in London on February 3rd. It sold for $104,327,006. At the same auction a Klimt landscape sold for $43,208,606. The total auction yielded a record high $235.7 million. Add to that a a hearty return from Sotheby’s Old Master and 19th Century European Art sale in New York last week and Christie’s London sale of impressionist and surreal art totaling $149,607,659 and you have signs that the art market may be gaining traction.

©2010-2022 Cultural Heritage Lawyer Rick St. Hilaire. Content discussing cultural heritage law, art law, looted antiquities, stolen artifacts, and museum risk management that is general information only, not legal advice.