The effects of Brexit are already rippling through the art market as British artist Jenny Saville set a sales record for her work at Sotheby’s London on Tuesday (28 June).

Buoyed by what one London art adviser described as a “10% discount” on account of the drop in value of the pound, Chinese billionaire Liu Yiqian picked up Saville’s “Shift” (1996-97) for the Long Museum in Shanghai for £6.8 million with buyer’s premium. Last year, Liu made headlines when he purchased Modigliani’s “Nu couché” for £113 million. Continue reading →