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Financial Review  |  Gabriella Coslovich

Three million-dollar paintings, six new auction records, and Australia’s first million-dollar diamond were all realised in Sydney on Tuesday night, emphasising the ongoing strength of the secondary art market. Deprived of their international getaways, Australia’s richest, many of whose fortunes have grown during the pandemic, are splashing out at home, and the auction industry is a clear beneficiary. The money needs to go somewhere, and why not on art and luxury goods – tangible art and luxury goods no less.

Financial Review  |  Gabriella Coslovich

Collectors will be spoilt for choice next week as more than $16 million in art goes under the hammer at Deutscher and Hackett, Smith & Singer, and Bonhams. No fewer than four million-dollar-plus paintings by blue-chip artists will be offered – three of them by Smith & Singer.