The Sydney Morning Herald reports some projections for this year’s hoped for Australian art market rebound:

Auction results have also been patchy. After dismal interest in its Aboriginal art auction in July, Sotheby’s Australia fared even worse last month, selling only $625,620 worth of indigenous art, against pre-sale estimates of $1.7 million to $2.4 million.

Australian art sales are expected to reach $105.8 million this year, says Australian Art Sales Digest, up on last year’s total of $88.1 million but below the $114.7 million of 2008.

Galleries See Red Over Sales (Sydney Morning Herald)