In this Expansión article by Rosario Fernández , the art market is experiencing a historic moment, marked by record-breaking auction sales and fairs packed with visitors. Elisa Hernando , director of the consulting firm Arte Global , emphasizes that "the secondary market is far above expectations," with Christie's moving €3.8 billion and Sotheby's €3.27 billion.
Grand Masters such as Picasso, Giacometti, and Modigliani are leading sales records, while the crisis has eliminated speculators, giving way to a more solid and secure market. According to Hernando, collectors are betting on established artists, and a recovery of intermediate artists is expected in 2011. Furthermore, the emergence of China and Hong Kong as new protagonists confirms the globalization of collecting, even displacing Paris as the center of operations.
