You are here

Winds of change sweep across auction world

BT_20160810_CPRUMBLE10R6K9_2429358.jpg
Art handlers with Picasso's Nature morte (left) and Nature morte aux volets verts at Christie's in London in June. The auction house said sales of art and collectibles fell by 29 per cent in the first half to £2.1 billion.

New York

A YEAR or two ago, in less unsettled times, it was relatively easy for the wealthy to enhance their social status, and maybe make some money, by collecting art. Auction houses courted sellers with lavish guarantees; buyers, even at the top of the market, could be reasonably