Text size Masterpiece collections filled with impressionist and modern art from the estates of major 20th-century collectors dominated the sales of the top three auction houses this year, helping to push total results for fine art up 14.7% to a record US$7.5 billion, according to a report this week from ArtTactic, a London-based art analysis firm. The story for Christie’s, Sotheby’s, and Phillips was different in the contemporary sector as sales of established contemporary art slipped 14.3% to nearly US$1.6 billion this year, while works by young contemporary artists (under 45 years old)—which had soared in 2021—fell nearly 23% to...
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