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Christie’s launches in India to tap growing wealth

december 19, 2013by 0

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In this photo taken Dec. 16, 2013, a visitor looks at a painting of Vasudeo S. Gaitonde during a media preview of Christie's first auction in India. Christie's holds its first art auction in India on Thursday, Dec. 19, 2013 aiming to tap into a budding market for prestige purchasing among the country's fast-growing ranks of millionaires despite an economic slowdown. While overall Indian growth has been stalling, the number of people worth $1 million or more is expanding and they show no signs of slowing their spending, fueling double-digit growth in the luxury market for the past five years. (AP Photo/Rafiq Maqbool)MUMBAI, India (AP) — Christie's held its first art auction in India on Thursday, aiming to tap into a budding market for prestige purchasing among the country's fast-growing ranks of millionaires despite an economic slowdown.

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