Art trade stays buoyant amid global turmoil

Major London auction houses Sotheby's and Christie's posted strong results in early March, with their Modern and contemporary art evening sales raising £131m and £197m respectively. These figures represented significant increases over the previous year, with high sell-through rates, despite concurrent geopolitical turmoil in the Middle East. Key lots included Francis Bacon's 'Self Portrait' selling for £16m and Henry Moore's 'King and Queen' achieving a record £26.3m.