Global art prices grew 27% in 2006. That is an incredible figure, especially when you consider how quickly they have grown in preceding years (2005: 10.4%, 2004: 19%).
Art prices in the US rose this year by an average of 27 per cent â€“ the steepest ever, according to Artprice.com, which tracks global auction prices. Depending on which index you consult, overall prices are either close to or above the level they reached during the peak of the last art boom in 1990.
While Artprice.com hasn’t released its 2006 update to its graph, the 2005 figure gives you the general post-2000 up-and-to-the-right idea: