Auction house Christie's said it sold a record $8.3 billion in art this year.

Christie’s Sells Record $8.4B in Art, Spurred By Big Estates & Young Bidders

And the auction house Christie's international had a big year announcing it sold a whopping $8.4 billion 17% from last year. And much of that buoyed by the estate of Microsoft Co founder Paul Allen worth 1.6 billion in total. Now, the bulk of sales are from auctions this year, with privately brokered art sales actually dropping 29% versus last year. The announcement coming a day after Sotheby's announced that it sold 7.7 billion in 2022. So I think the trend that we're seeing here, and I've actually heard this anecdotally as well is it looks like wealthier individuals looking into some alternative assets, right? If stocks are not set to rebound anytime soon and there's really kind of no place to hide their turning to art as no longer-term investment. That's the takeaway.