From The Economist. This is a summary from post dated Jan 18, 2014
The Art Market
In November an auction in New York of contemporary and modern art made 691m, breaking all previous sales records of past at this venue. What makes this so special is these artworks were from the 20th and 21st century. While museums and private collectors hold on to older pieces, the value for all the later periods have increased. Because there are enough later pieces to handle to market, art galleries can no longer control the cost of venues and prices.
In some places across the globe where there use to be only one show per year there are now 20 or more. Fairs are sprouting up everywhere and they are not requiring eloquent show rooms or have to be a formal affair. Since the is a strong market of new buyers with money to spend for the right pieces. What does this mean to you, well if you can make a connection with local modern and contemporary artist, you may have a golden opportunity to make some easy cash. The trick is to pick a location that invites mingling and can accommodate the size of the art.
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