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Supply and demand put prices in frame

By Prime Sarmiento in Hong Kong | China Daily | Updated: 2018-10-12 07:48

The international art scene ended last year with a bang when it witnessed the sale of the world's most expensive painting.

Leonardo da Vinci's Salvator Mundi was bought for $450.3 million at Christie's New York auction in November. Saudi Prince Badr Abdullah Mohammed Farhan Al Saud bought it on behalf of the Abu Dhabi Department of Culture and Tourism.

Impressive as the price was, industry experts said it will take more than an artist's reputation to inflate the price for any work of art.

Supply and demand put prices in frame

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