Art market banking on new generation of collectors

The global art market is not immune to current economic and geopolitical tensions, and is counting on a new generation of collectors to revitalise the momentum.

Some big transactions were concluded last week during Art Basel, the world’s top contemporary art fair, notably by London’s Annely Juda Fine Art gallery, which sold a David Hockney painting for between $13 million and $17 million, without disclosing the exact price.

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