The art of buying: How has market fared over the past year?

Auction houses and art dealers point to the rising buying power of a younger generation who are beginning to collect for the first time

How has the art market fared over the last year? Even as reports of a revival in morale and spending have brought cheer and an air of optimism, there has been a decline in the overall growth of the market in 2017. What accounts for this, and can the anomaly be explained?

The art market, which had taken a tumble following the economic crisis of 2008, had plateaued before beginning a slow rise to the same levels that it took almost a decade to achieve. A global parallel to this does not exist, since Western (and Chinese) markets were quicker to