Tag: correction
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The art market is in a correction as big spenders fade
The global art market is poised for its second straight year of declines, as demand for the top trophy works wanes and a new generation of buyers favors lower-priced pieces, according to a new survey. Auction sales in the first six months at Christie’s, Sotheby’s, Phillips and Bonhams fell 26% from 2023 and 36% from the…