Art and sculpture deals have expanded globally, in part because of the formation of mutual funds that invest a client's money in art acquisitions, which are subsequently sold on for profit. The new deal with Mr. Koons is expected to be announced this week, according to people familiar with it. North America will be the most attractive region, while Europe is expected to experience a significant YoY rise of 10.6%.
Art and sculpture deals have expanded globally, in part because of the formation of mutual funds that invest a client's money in art acquisitions, which are subsequently sold on for profit. The global art and sculpture market is expected to be worth $24.6bn by 2025, with a compound annual growth rate of 11.8%, according to a study by Research Solution Insights. North America will be the most attractive region, while Europe is expected to experience a significant YoY rise of 10.6%.