Contemporary art shoots up its price by 400% | Fortune

The contemporary art price index soared to an all-time high in early summer 2021. The increase is now around 400% compared to the early 2000s, which makes it the most dynamic and profitable segment of the art market.

Even so, the contemporary art auction market saw its global turnover shrink by 34% during the 2019/2020 periodas it rushed to stop the bleeding caused by the March 2020 panic and the total stoppage of auctions.

Fortunately, the subsequent organization of online sales made up for the closure of galleries and auction rooms and the recovery that followed last year has brought the world contemporary art market to a new all-time high, both in terms of turnover and sales. transaction density.

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