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A year of highs and corrections in the art market

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Last November at Christie's, Chinese collector Liu Yiqian offered a winning bid of US$170.4 million for Modigliani's 1917 Nu couché (above) while a Vincent Van Gogh artwork titled 'Paysage sous un ciel mouvement' was auctioned at Sotheby's for US$54.01 million. Such sales created a sense that the art market was booming. But overall, sales at auctions showed signs of slowing growth and even contraction in 2015.

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Last November at Christie's, Chinese collector Liu Yiqian offered a winning bid of US$170.4 million for Modigliani's 1917 Nu couché while a Vincent Van Gogh artwork titled 'Paysage sous un ciel mouvement' was auctioned at Sotheby's for US$54.01 million. Such sales created a sense that the art market was booming. But overall, sales at auctions showed signs of slowing growth and even contraction in 2015.

London

LOOKING back at the headlines, 2015 was a momentous year for the art market.

In May, Picasso's 1955 painting Les Femmes d'Alger (Version 'O') sold at Christie's in New York to an as-yet-unidentified telephone bidder for US$179.4 million, a high for any artwork at auction.

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