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Art ‘Flipping’ Spreads as Speculation Rises

An art market report has noted a sharp rise in ‘flipping’ of contemporary works as sales of ‘wet paint’ works (auctioned within two years of production) increased by 166 percent in 2022. According to figures from specialist insurer Hiscox, the market for contemporary artwork has become increasingly speculative, with analysis of auction data showing the number of works being re-sold at auction within two years of being made, more than doubling. In 2022 1,033 ‘wet paint’...

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