Saturday, 4th July 2009

 

8 July 2008 - Press Briefing

Survey shows wealthy buyers boosting UK art market

High net worth buyers are bolstering the UK auction market for art and antiques worth more than £50,000 (€62,822), a survey published on Monday by the Royal Institute of Chartered Surveyors showed, according to a Bloomberg report.

Contemporary art emerged as the strongest-performing area of the UK auction market for the second consecutive quarter, with 48% of the chartered surveyors reporting rising prices. Rising commodity values were boosting demand for silver and jewellery, where increased prices were reported by 32% and 24% more respondents, said the survey.

Antique furniture and paintings valued at £1 to £1,000 were the weakest performers, the survey showed, with 51% and 45% more respondents reporting falling prices in these areas.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

$95 Million Trump House Could Be Sold–Again

Donald Trump set a record when he sold a house for $95 million last year. It was, he proudly pointed out, the largest amount paid in the U.S. for a single-family home.

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