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The Growing Wealth Inequality Gap Is Being Mirrored In The Contemporary Visual Art World

VISUAL Posted: May 17, 2019 8:27 am

“Art that cost more than $1 million accounted for 40 percent of the market but just 3 percent of transactions. The disparity is most severe in the contemporary market, where living artists’ work is sold out of art galleries. In 2018, sales from the top 20 living artists accounted for 64 percent of the market. Bigger galleries, the top 5 percent in terms of turnover, accounted for more than 50 percent of sales. Sales at smaller galleries declined over the past few years.” – The New York Times

VISUAL Published: 05.16.19

Read the story in The New York Times Published: 05.16.19

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