Global turmoil and rising taxes tilt art trade towards new era

"Negative market sentiment continues to outweigh positive voices in the market, and it is the fifth consecutive reading where pessimists outweighed optimists."

"Sotheby's and Christie's are both in the process of making staff cuts. Sotheby's majority owner, Patrick Drahi, struck a deal... resulting in a much-needed cash injection of around $1bn."

Read at The Art Newspaper - International art news and events