Expansion: Lights and Shadows in the Art World

Expansión: Luces y Sombras en el Mundo del Arte

This Expansión article by Rosario Fernández shows that while works by established Old Masters and Classicists remain strong, contemporary art has been the hardest hit by the economic crisis. However, according to Elisa Hernando , director of the consulting firm Arte Global , collectors tend to favor established artists with international careers, while emerging artists have suffered significant declines.

The year 2009 was marked by ups and downs: works by artists such as David Hockney, Neo Rauch, Peter Doig, and Andy Warhol reached record sales , while pieces by younger artists, especially Chinese and Russian artists under 45, saw sharp price declines. Even so, the overall market remains robust, with notable auctions in London and Paris and an AMCI confidence index that grew by 60% in the final months of the year.

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