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07/22/2008 - NO BUBBLE IN THE ART MARKET
As it continues to defy the doomsayers, the art market demonstrated its strength once again with Christie's report of its strong sales performance for the first half of the year with its report of revenue of $3.6 billion. Sales were bolstered by the increasing depth of the buyer's market as new demand from Asia, Russia, and the Middle East aided the auction house in selling four of five of the most expensive works of the year so far.
Sales in Asia and the Middle East rose 81% year-over-year "
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