Last year, while combined public auction sales for Sotheby's, Christie's and Phillips fell by 19%, private sales rose.

Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after it reported record full-year sales even as Asia-Pacific spending waned.

In 2023 alone, Shenzhen saw a 10% growth in millionaires, while Beijing and Shanghai recorded a decline of around 5% amid an exodus of high-net-worth individuals from China. 

Can money buy happiness? Contrary to what some may think, a million-dollar paycheck does not necessarily come with a problem free pass. 

While the spring sales typically have more than a dozen works offered for more than $30 million each, this year there are just a few.

Members of Britain's exclusive all-male Garrick Club voted on Tuesday to permit women to join the institution for the first time in its 193-year history.