A Sharp Downturn in the Art MarketThe high-end art market is experiencing a significant downturn due to inflation and high interest rates.Collectors are withdrawing from purchasing artworks, causing revenue declines and closures within galleries.
Choppy waters ahead for the art marketSotheby's experienced an 88% drop in core earnings, reflecting a wider trend of declining auction sales in the art market.
A Sharp Downturn in the Art MarketThe high-end art market is experiencing a significant downturn due to inflation and high interest rates.Collectors are withdrawing from purchasing artworks, causing revenue declines and closures within galleries.
Choppy waters ahead for the art marketSotheby's experienced an 88% drop in core earnings, reflecting a wider trend of declining auction sales in the art market.