Good News for Artist! Could the market be going back up?

I saw this article on Twitter this morning and had to share.

World’s Wealthiest Are Stashing Their Cash In Art

On Monday, a museum owned by Chinese billionaire Liu Yiqian bought an iconic painting by artist Amedeo Modigliani for $170.4 million, according to Christie’s, the auction company that oversaw the sale.

It’s just the latest in a slew of big art purchases by international buyers. In September, Christie’s main competitor, Sotheby’s (BID), announced its plans to sell $500 million in art from the collection of its former chairman, Alfred Taubman, who passed away earlier this year.

In New York City alone, there’s over $2 billion worth of art for sale in November. To Read more of th article go to: CNNMoney