Koons' "Balloon Dog" sculpture sold for a staggering $52 million at Christie's last fall, making it the most expensive piece by a living artist to sell at auction. (AFP Photo/Stephane de Sakutin)
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The contemporary art market experienced a record-breaking year in 2013/14, smashing through the $2 billion mark for the first time, according to new figures released Tuesday.U.S. artists Jean-Michel Basquiat, who died in 1988, Jeff Koons and Christopher Wool remain the market's biggest stars, accounting for sales at auction of $436 million, according to Artprice, a Paris-based organization which keeps the world's biggest database on the contemporary art market.In the year from July 2013, sales of contemporary art at public auctions reached $2.046 billion, up 40 percent on the previous year, Artprice's annual report said.Of the three top-selling contemporary artists, defined as artists born after 1945, Basquiat maintained his lead in 2013/14 with sales worth around $208 million, while Koons and Wool clocked up $148 million and $78 million respectively.
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