It has been a very good year for the art market. Insiders have stated that 2006 has been the best year for art sells in over a decade. Half a billion dollars' worth of art was sold last week at Christie's alone. It is doubtful that the market will decline anytime soon.
The art that exchanged hands last week helped New York to break the one billion dollar mark in art sells. This is the first time that such a high record has been achieved in a single season.
Insiders believe that the 2006 art market will continue to boom. Works by Jeff Koons, Damien Hirst, and Andy Warhol will be for sell next week at Christie's and Sotherby's post-war and contemporary art sale. This increase in sells is fueled by a young generation of wealthy buyers.
Emerging artists are also benefiting from the current art market. Many of the artists I've communicated with have noted an increase in the sell of their work during this year. These young artists may not earn 61 million dollars per painting, but they are making enough to be content. Let us hope that this interest in art continues in 2007 and beyond.
Have you sold a work of art recently? Tell us about it!