The author reflects on the monetary evaluation of the contemporary art in the global art markets. According to an auction specialist, estimating the value of the art pieces is definitely hard for them since the prices are surging higher leaving the art market in recession. In conjunction to this, the author with reference to Arprice.com statistics, lays claim that the works of the artists between 25 and 45 years old went from $32,514 in 1990 to $80, 710 in 2004 in New York auctions.
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