THE ART NEWSPAPER:By Charlotte Burns. The wealth of the super-rich is keeping the miracle going but mostly for the best works.The top end of the art market appears to keep climbing, despite fresh crises in the currency and banking markets and ongoing turmoil in the Eurozone. The reportedly strong sales at Art Basel (13-17 June) indicate a buoyancy bearing little relationship to the problems in the global economy and the fact that major financial institutions are still struggling with risk management—J.P. Morgan was one of several banks to be downgraded by the credit agencies in June after losing $2bn in trades of illiquid credit derivatives. Meanwhile, according to a report in the New York Times, the growth of the art market is outstripping GDP (gross domestic product).Read Source here