Strong Market for XX Century Art.

The packed two-week-long Marquee Sales in New York this May loudly confirmed a strong art market despite the ongoing effects of the global health crisis and the geopolitical situation in Eastern Europe impacting the economy. This is particularly true for higher-priced artworks with an average BI rate of 9%, while day sales performed with a higher average BI rate of 12%. In total, the Impressionist, Modern, Post-War, and early Contemporary sales held at Christie’s, Sotheby’s, and Phillips reached $2.3 billion, including evening and day sales and three single-owner sales.

Artemundi