Feb 132014
 

China becomes world's top art buyer

Global art sales hit a new record high of $12.05 billion (8.8 billion euros) in 2013 with China keeping its spot as the top buyer, a leading art market data firm.

According to the report, The market rebounded after a nine percent drop in 2012 that was due mainly to a decrease in sales in China. But China remained the top art buyer for the fourth year running in 2013, accounting for $4.078 billion in sales.

It was followed closely by the United States, which accounted for $4.016 billion of sales, up 20 percent from 2012.

Contributed By Sonia Narula

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