Art Sales in London: super-rich hunt for the wow factor

Jul 13th, 2009

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Art Sales in London: super-rich hunt for the wow factor

By Colin Gleadell
Published: 9:52AM BST 30 Jun 2009 in the Telegraph.

While the world’s super-rich are looking for great art to buy, the auctioneers are having problems finding it for them. Last week, Merrill Lynch and Capgemini’s World Wealth Report confirmed what many in the art trade have been saying for months: that since the financial crisis began, high-net-worth individuals have been moving their money away from bank deposits and stock markets into alternative investments such as jewellery and art.

Read the whole story at www.telegraph.co.uk

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