Record-breaking year as US art prices rocket

2005 was the year when US billionaire Eli Broad bought a steel sculpture for the price of a big London house, a truffle was sold for more than its weight in gold and a Canaletto painting set a record.

31st December, 2005

2005 was the year when US billionaire Eli Broad bought a steel sculpture for the price of a big London house, a truffle was sold for more than its weight in gold and a Canaletto painting set a record.

Older US money and new Russian and Chinese wealth poured into the auction market, swelling sales of the world's top auction house, Christie's, by more than a quarter, to about $3 billion.

Contemporary art prices rose a further...

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