SOTHEBY'S CEO DISCUSSES GLOBALIZATION OF THE ART MARKET

Very interesting discussion on October 18, 2011 at Yale's School of Management with Sotheby's CEO William Ruprecht.

See Yale's Dean Edward A. Snyder's interview with Ruprecht (link below).

http://mba.yale.edu/news_events/CMS/Articles/7485.shtml

Highlights

• In the last decade there has been major changes in the auction world, with China in the foreground. Given China's massive wealth generation, there "has been a total shift of where the demand and supply are".

• The United States and Europe have now become net sellers of art, while China - whose market has exploded - has become the largest art market in the world.