India, Oct. 4 -- At some point of time in the history of capitalism, acquiring art also became an act of investment for some people. This market seems to have entered a bear phase at the moment. Sales growth has been stagnant for the biggest auction houses for years now. Global auction giant Sotheby's saw its losses double to $248 million in 2024, FT reported earlier in September. Christie's, the other global giant, saw its sales fall 8% in 2024. What is happening? Here is what the numbers tell us.

Published by HT Digital Content Services with permission from Hindustan Times....