CNN tackles the Turkish art market which has grown as the economy doubled in size since the 2001 banking crisis:
“These numbers have gotten quite astronomical,” said Kerimcan Guleryuz, owner of the recently opened Empire Project art gallery.
Guleryuz is the son of Mehmet Guleryuz, one of Turkey’s most famous living painters.
“Unfortunately, until five or 10 years ago … the number of artists I could count who were making a living just off of their work was three to five, maybe,” Kerimcan Guleryuz said. “Now you can look at a work from Taner Ceylan being put in the Sotheby’s auction and reaching more than 280,000 pounds sterling ($444,000).” […]
“The influence of the Turkish economy’s growth has unquestionably been one of the most important catalysts to this growth in the sales of artwork,” gallery owner Guleryuz said. “They go hand in hand. Unless you have economic stability, unless you have growth, you will not have sales in art. It’s just not possible.”