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There is one overwhelmingly obvious conclusion that leaps out from the sales data for Gerhard Richter's work last Autumn in New York. Demand remains strong for the artist's work but what's on offer has been priced to perfection. Competition for lots by the artist, especially the very top lots, is way down. Buyer's don't seem to want to pay a penny more than absolutely necessary. Seller's have little incentive to put their works on the block without price guarantees.
Richter is sure the most valuable and sought after artist alive. But his market may have reached its zenith, at least for now. (Let's be precise, saying a market has run out of upward momentum is not the same thing as saying it has or will begin to fall.)
Let's look what we've based this conclusion upon.
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