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Sky-High Chinese Art Market Comes Back To Earth | China Digital Times (CDT)

Sky-High Chinese Art Market Comes Back To Earth Posted by Sophia Cao | Mar 13, 2009 The recession has deeply affected Chinese art market, causing a shrinkage of fifty percent. Galleries in Beijing also suffered from the dismal economy, via NPR.org: How much difference half a year makes. Last year, 11 of the world’s top 20 best-selling artists were Chinese. Work by just one of those, Zhang Xiaogang, raked in $44 million at auction in 2008 alone. But in October, as crisis after crisis buffeted ...
Zhang Xiaogang Brian Wallace Wall Street Red Gate Gallery Art Market Chinese Art

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