THE contemporary

The contemporary art market
Belgium $4.1 million
Germany $17.8 million
Austria $6.2 million
1%
China $542.8 million
31%
Italy $7.1 million
Turkey $6.5 million
France $35.6 million
2%
Qatar $9.3 million
United Arab Emirates $4.1 million
Japan $4.6 million
South Africa $4.6 million
Singapore $5.4 million
Australia $7.5 million
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of artists and their works.
London is also propping up the prices of the major
Anglo-Indian artists like Anish Kapoor and Bharti
Kher (who generate 55% of their auction turnover
in London), Rashid Rana (62% in London) and,
above all, Raqib Shaw (94% in London), the most
sought after Anglo-Indian artist along with Anish
Kapoor. Still in 6-digit results since 2007, Raqib
Shaw has returned to centre stage this year with
two works fetching above the million-dollar line 1
in London last June, one at Phillips, the other at
Christie’s.
1) Including fees.
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