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High-end art sales boom in 2017, but it's only a partial market rebound

Reuters  |  ZURICH 

By Brenna Hughes NeghaiwiZURICH (Reuters) - The works of great artists buoyed the art market last year and none did more than Leonardo da Vinci, whose 'Salvator Mundi' sold to great fanfare for $450 million in New York in November.Global art sales grew 12 percent to an estimated $63.7 billion after two years of falling sales, said a report published by UBS and Art Basel on Tuesday.That still fell short of the record of over $68 billion set in 2014 and below $66 billion achieved in 2007 before the art market plummeted during the financial crisis. "Industry-wide gains were driven by sales at ...

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First Published: Wed, March 14 2018. 00:09 IST
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