Jasper John's (American) "Flag" sold for a record price in New York with other American artists taking top dollar in a reversal of a trend that favors international artists. "THE dominant characteristic of the art market over the past ten years has been the globalisation of collecting. Which is one reason why the season’s main auctions of post-war and contemporary art in New York on May 11th and 12th were so unusual. Bucking the trend, these were all-American moments."

Read it at The Economist