The global art market has slowed but masterpieces are still in demand / Image: ShutterstockArt is still being sold for headling-grabbing prices. Global art sales have cooled over the past three years amid political and economic uncertainty, inflation pressures, and a shifting market, but despite this post-Covid-19 downturn, remarkable artworks continue to achieve record sums at auction. Canaletto, Venice the Return of the Bucintoroon Ascension Day ./ Image: Christie’s LondonWhat’s the story behind its record price? A bidding war between two wealthy art enthusiasts helped drive the price to a 2025 high, although it hammered just short of the Dutch modernist’s auction record. III, with Red, Blue, Yellow, and Black fetched $50.6 million in 2015 at Christie’s, while an artist’s record was achieved when the 1930 painting Composition No.