Since the late 1990s, contemporary art markets have emerged rapidly outside of Europe and the United States. China is now the world's second largest art market. In counties as diverse as Brazil, Turkey and India, modern and contemporary art has been recognized as a source of status, or a potential investment tool among the new middle classes. At art auctions in the US, London and Hong Kong, new buyers from emerging economies have driven up prices to record levels. The result of these changes has been an increase in complexity, interconnectedness, stratification and differentiation of...
Since the late 1990s, contemporary art markets have emerged rapidly outside of Europe and the United States. China is now the world's second largest a...
