Muted tones paint the scene of art auctions in 2011

"POOR quality, conservative estimates, low reserves, few crowds and disappointing results. If you think this describes the 2011 real estate market you'd be right, but it also applies to this year's art market.

Sales results at auction this year realised $99.4 million, which is down from $103.2 million last year and a long way from the feverish pre-GFC days of 2007 when $175 million of art sold at auction."  [Read Full Article]

Published by:  The Sydney Morning Herald
On:  12/14/11
Website:  http://www.smh.com.au

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