15th June 2007
Three paintings by Monet and a portrait by Lucian Freud are expected to break yet more record sales. As London city bonuses and money from Eastern Europe continues to flood into to the art market prices continue to increase.
As prices continue to rise in the art markets more and more private collectors are jumping on the band wagon and taking their paintings to auction.
Currently the art market is buoyant due to demand for art outweighing the quantity of art for sale. As more and more private collectors start to sell their paintings at auction the balance between supply and demand will even out which will cause prices to flatten then fall.
Currently demand is increasing and outweighs supply hence the extraordinarily high auction prices.
