A study released by the European Fine Art Foundation predicts that next year the European art market’s sales figures will lag behind those of the U.S. market for the first time. Who’s responsible? Analysts are pointing their fingers at a range of factors: stringent EU tax regulations, increasing competition among auction houses, a dearth of available masterworks, and the success of Internet auctioneers. “The very nature of the art business is in flux.” – Time (Europe)