In this Citywealth article, Joshua Rubenstein, national head of the firm's Trusts and Estates practice, discusses recent trends in the sale of high-priced art and antiques around the world. He notes that sales in the art market have grown more than 130 percent in the last 10 years, driven by increased demand as well as increasing prices, particularly for Modern and Contemporary art. Josh adds that the United States is the leading marketplace for sales of the highest-priced art and antiques in the world, and that Post War and Contemporary art represent the largest sector of the art market in the United States. Additionally, he notes that while commodities are often used for money laundering and other illicit purposes, art is too easily traced to be used in this manner. ("Art Is Too Easy to Trace to Be Used for Bribes," June 4, 2015)
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