In the face of China’s rise to third-largest art market (slipping in ahead of an aggrieved France), Clare McAndrew, head of the Dublin-based consulting firm, Arts Economics, is “ looking at resale rights in Europe. There are real
worries in Europe. New markets like China emerging is very good for the market overall but difficult for countries, like the U.K. and France, that have been hampered by regulations and taxes. They have to compete not only against the U.S., which has fewer regulations, but also against countries, like China, that don’t have resale royalties.” (Via ARTINFO)
She also says that, as art becomes viewed more and more as a long term investment, speculators have been “shaken out.”
The Art Machine 