Alexander Forbes | Artsy | 11th March 2016
The TEFAF report is kind of the art world’s scoreboard. Global sales in 2015 were down by 7%. US sales made up 43% of the total market but China tumbled, due partly to a crackdown on “elegant bribery”. “Ultra-high end” sales (over $US10m) grew to 29% of turnover. Post-war and contemporary art remains most popular while a generational decline in Old Masters continues. Online sales grew modestly.