Maurizio Cattelan's $6.2m duct-taped banana sculpture 'Comedian' attracted attention as a satirical take on art market excess, yet highlighted the absurdity the market can breed.
Despite initial enthusiasm after a presidential election, the November 2024 auctions revealed a slump, raising $1.3bn—a 41% decline from the previous year, indicating tighter market conditions.
The aftermath of the US presidential elections proved a challenging time for auction houses, with collectors showing reluctance in backing high-value art sales.
While certain pieces like Cattelan's banana stirred interest, overall auction results indicated a shift, with many items sold within estimate or left unsold.
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