According to this article, Abigail R. Esman thinks the global art market is the “world’s strongest economy.”
We’re not sure that is exactly correct, but quoting the annual Artprice report, she states that art sales for 2011 were the highest in history. Modern art, not surprisingly given its historical record, was the most profitable segment – with an outstanding revenue of over $6 billion, representing 52% of total global auction revenue.
[This entry was drafted with the assistance of Nicole Dornbusch].