CNBC: Fine Art Photographs as Investments

CNBC European Business � Investments – Hot pix:

“Judging by the explosion in sales of contemporary photographs and the concomitant “musification” of photography, it is evident that the stars of the still image are very much in the ascendant. The magic $3m (€2.2m) figure was smashed by the sale at auction of Andreas Gursky’s 99 cent II, Diptych earlier this year. The penultimate photography sale at Christie’s London this season resulted in a world auction record for Helmut Newton’s Big Nude III, which sold to a private buyer for £192,000 (€282,000). Last year’s Paris Photo fair saw prices for modern photography skyrocket, with two Man Rays selling for €20,000 each, as well as the intriguing phenomenon of the Lumiere des Roses gallery in Montreuil, which enjoyed a sellout show of its anonymous prints from family albums and rare archives.”

via photographypay.com.

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