Why Has The Revenue From Art Sales Grown 500% Over Five Years?

A lot of attention has been given to the sale of a Picasso painting for close to $180 million at a recent auction.  This article offers a simple explanation for the 500% growth rate in fine art sales in the last five years.  There are many more very wealthy individuals competing for a limited number of prestigious works of art.  As the number of super rich investors compete for a limited supply of art the prices will continue to rise.  Fine art is a better investment than many assets without a finite supply.  There is no bubble in this market.