Revolution on the art market

La Repubblica comments on the changes which are shaking up the international art market and causing US collectors and gallerists to fall behind. The developments are also being felt by European art, the paper writes: "To understand the concern felt by Americans over the weak dollar and the new rich from Russia, China and Saudi-Arabia, one need only take a stroll through the Rockefeller Center, a deeply symbolic building and home to Christie's auction house. .. The auction market is flourishing, however no longer in New York but in Dubai and Hong Kong. The buyers are the same ones buying up British football clubs, Manhattan skyscrapers and villas on the Italian Costa Smeralda. ... The king is Russian magnate Roman Abramovich. ... [And yet] the revolution in the art market which is so worrying America can also be an opportunity for European art."

» more information (external link, Italian)
More from the press review on the subject » Fine Arts, » Trade, » Russia, » Asia, » Europe, » U.S.