Basquiat's art market superstardom rose to dizzying new heights in 2021 but auction sales dropped by 50% in 2022

At the record-breaking sale at Christie's New York on 15 November 2017, the audience gasped and whooped as if they were at a very exclusive firework display

Previous top price was $82m for a portrait of Dr Gachet

Offered next week at Phillip's New York, the works were made during Warhol's student days and bear no resemblance to his signature styles

There were few fireworks in the three-part sale as the froth comes off the top of the market

When prices rise, investors often buy art to lower risk and increase returns. But the market's buoyancy may be short-lived, as experience tells us

It could become the most expensive Asian work sold by a Western auction house. Meanwhile, young contemporary names proved popular at last night's Sotheby's sale in Hong Kong

Plus, the newly discovered Van Gogh is sold and artist Rana Begum on Tess Jaray

While today’s art world has been shaped by the prism of price, our current economic model may not be inevitable

Plus, a $2.2m Batman comic and the artists inspired by political theorist Hannah Arendt

Art as a blue-chip investment has had its day, as buyers chase the latest "red-chip" names