The Financial Times outlines this week that there is still huge demand for art despite the downturn and, as they put it “the sky’s the limit for top quality works which are “properly priced and fresh to the market”. Despite a fall in its result Sotheby’s announced a net profit of $73.6. The FT mentions ‘citizens of the world’ / billionaires who drive the sales and cannot be described as belonging to any single country, continually travelling between their homes in Switzerland, the US, France and Monaco.

The article also focuses on the emergence of new art markets. One such market is Morocco where the French fair organizer ArtParis has joined [...]

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