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Contemporary art market slows as Chinese buyers switch focus

Global contemporary art sales slowed by a quarter in the year to July 2016 as demand in China dried up, according to leading index Artprice. Turnover was $1.5 billion (1.3 billion euros) compared with $2.1 billion in the previous year. "The market saw a healthy period of adjustment, which was as necessary as it was predictable," Artprice founder and chief executive Thierry Ehrmann said in the report released on Sunday.
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