#market-recovery

#market-recovery

The art market's surprising recovery continued yesterday (19 November)at Rockefeller Centre, thanks to Christie's 21st century evening sale hauling in $99.5m, or $123.5m with fees. The result eclipsed last November's equivalent sale that realised $106.5m with fees. Last night's tally before fees fell midway between pre-sale expectations of $87m to $127m. Out of the 45 lots offered, just one-a Cecily Brown abstract-failed to sell, making for an almost-perfect buy-in rate of 98%.

Australia's CBD office vacancy rates have stabilized as more employees return to work, with the Property Council noting significant positive absorption in Sydney for the first time since 2016.

It’s a risky time to jump out of markets, even if tempted to cut losses due to recession fears; act thoughtfully rather than emotionally.

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