Edie Hu. Asian Modern and Contemporary Art Market Highlights—Spring 2016
With the excitement of Brexit in the UK in the early summer, many were surprised that the contemporary art market did relatively well in the London June sales (although these were much smaller). The indications seem to be that the art market is much more resilient than other markets and is able to defy dire predictions that it would go through a rough patch in 2016. This points to the art market still being healthy, despite it slowing down a little from the past few years. While the results of London’s Impressionist and modern sales during the week of the referendum in June reflected pre-Brexit jitters, the post-Brexit contemporary sales were quite to the contrary.