Art market: 2012 auction review

2012 was a stellar year for contemporary art. Both Sotheby's and Christie's hosted record contemporary sales in November, as the sector continued to grow from less than 4% of the world's turnover in 2002 to 11% today.

Yet the achievements of the old masters this year should not be forgotten. The sector has seen strong results in 2012, with the Mei Moses Fine Art Index reporting a 5.4% increase in value for the first half of the year.

But for most people, the year belonged to Munch…

Top sale

The Petter Olsen version of The Scream
The Scream - now the world's most valuable auctioned artwork

See the Top 10 art sales in 2012.

New records in 2012

Raphael Head of an Apostle
Raphael's Head of an Apostle set a new record for an old master drawing at auction

It was a breakout year for…

Jean-Michel Basquiat Auction Record Christie's
The November sale was the third time the Basquiat record was broken in 2012

One you may have missed

  • The only Calvin and Hobbes comic strip to be offered for sale this century broke the world record for original newspaper comic strip art, selling for $203,000 in November.

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