Covid-19 meant that few in-person auctions could take place. Nervously at first, auction houses and galleries started hosting more and more online auctions throughout the year, trusting buyers to bid without ever having seen the artworks in person.
This might explain why female spending overtook men's last year. There are more male billionaires than females, and they are more likely to spend vast sums on famous artworks, like Leonardo da Vinci's"Salvador Mundi" which was bought by Saudi Arabia's Crown Prince, Mohammed bin Salman, for $450.3 million in 2017.AFP via Getty Images
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