In the past decade London has emerged as a major hotspot for contemporary art. “The rise of the contemporary art market is being driven both by the age-old laws of supply and demand and by a change in taste. Collectors are finding it increasingly hard to buy great Impressionist and Old Master pictures, many of which are in museums, while living artists can feed a hungry market. Contemporary art is also more fashionable, especially among the new rich who have made their money in the past decade.”