Further evidence that the balance of power is shifting firmly East is news that a painting has sold in China for $65m – about £40m. The world auction figures now put China as the most lucrative art market in the world. Whilst art is phenomenally difficult to value, the trend is clearly one of the increasing economic strength of the Chinese. Art prices has been having something of a renaissance over the last 3 years as investors have sought alternatives to equities.

For more information about auctions or the commercial side of art visit Art Info website, or you could click here.

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