The year 2022 was a record year at the highest levels of the art market in terms of collections entering the market, expensive paintings and auction house sales.
However, some experts say that selling at the lower end of the market is starting to cool as fears of a US recession grow.
The most expensive artwork to sell at auction this year was Andy Warhol's US$195 million portrait of Marilyn Monroe, titled "Shot Sage Blue Marilyn," sold in May to the famous art dealer Larry Gagosian, who works on behalf of billionaire collectors, although it remains unclear whether . . .