In Australia, ABC is excited about the art market’s return. They see a connection between big works on offer in Europe and what’s happening in the Aussie market:
The Australian art market is set for some record breaking of its own, when Sidney Nolan’s 1946 First Class Marksman is put up for auction by Steve Vizard’s, Vizard Foundation.
It’s thought to be one of the only Ned Kelly paintings in the artist’s first series which isn’t in the National Gallery of Australia.
Art market analyst Michael Reid says while it’s a good sign of things to come, sales aren’t as consistent as they were before the economic downturn.
MICHAEL REID: One of the hallmarks for 2010 is that there’s a pool of discretionary income that’s building but it is actually heading at the moment towards the real estate market and stock market. Having said that when really good things come up the market has been achieving prices for 2007.
The Art of Making Money (ABC News Online)