A report from
Artprice indicated that the contemporary art market is resisting the economic
crisis, in that sales only showed a small decline from last year. Major market
forces such as Qatar help. The Royal Family continues to outbid competitors for
masterworks after a precedent of the $250 million acquisition of Cezanne's The
Card Players last year. The market also finds support in emerging areas such as
India where an independent art fair in New Delhi enables collectors to
interface directly with young artists. Also, in the United States, the Cherokee
Art Market of Catoosa, Oklahoma displayed the talent of Native American artists
nationwide, and compliments from Paris bolster the image of Los Angeles as a
capital for contemporary art.
The news is not as uplifting
for antiquities. A recent report on looting in Syria suggested that antiquities
are traded directly for arms by dealers in Jordan and Lebanon. Also, Pakistan
struggles with the production of fakes and with trafficking in looted Buddhist
relics that fetch multimillion-dollar prices at auctions abroad. Trafficking
augurs repatriation, and, in fact, Turkey remains assertive in calling for the
return of antiquities from museums worldwide.
For similar news, visit Cultural Security News.
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