London Overtakes New York

In 2008, New York's auction market produced only $2.9 billion, down approximately 23 percent from a year ago and falling behind London, the new global leader in art auction sales.

Details here.

Meanwhile, some are predicting that as the economic slump continues, art collectors will be turning their attention more and more to the basics of art collecting and looking more closely at emerging artists and more affordable art.

That is the concept behind the international Affordable Art Fair, and the New York version of that fair takes place May 7-10 in New York City.

If you want to score a couple of free tickets to that fair, send me an email and I'll set you up.