China returns to the leader position as the world’s largest art marketplace

Worldwide, more than 252,000 Fine Art lots were sold in the first six months of 2016, generating a total turnover of $6.53 billion (including fees). Artprice, world leader in Art Market information since 1987, has systematically analysed over 3500 auction sales to produce a detailed half-year report covering public auctions of Fine Art (painting, sculpture, drawing, photography, printmaking and installations). Transactions rose 2.3% while sales turnover dropped -25%, almost entirely due to a reduced offer of major masterpieces (works priced over $10 million) in all artistic periods. According to thierry Ehrmann, Artprice's founder and CEO, with its overall economy on meltdown watch for a number of semesters, China had been expected to lose its 'soft power' battle with the United States on the global art market this year. Its return to the global leader position with a turnover up by more than $570 million is therefore

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