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Phillips’ Dolman Says Art Market Is in Period of Consolidation

Bloomberg business news

Consolidation Paints a New Picture for Art Market

Ed Dolman, chief executive officer of Phillips, a boutique auction house, said the art market is in a period of consolidation after years of growth.

Price increases in the past years were driven by low interest rates, which pushed “massive” amounts of money into the art market, Dolman said in an interview with David Westin and Stephanie Ruhle on Bloomberg Television on Wednesday.