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The art market is entering a "new era of prosperity," driven for the first time by rising prices for contemporary art, the world's biggest art market index has declared.Demand for contemporary work was traditionally the weakest part of the art market, Artprice said, but its share has risen fivefold since 2000 .The rise in prices for work by living artists helped drive a 5.3 percent rise across the whole market, dragging it out of two years of decline.It said one of the key market indicators – the "unsold rate" at auctions – has fallen to the same level that it was when the Chinese market was at its pinnacle in 2013-2014 .
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