Is the art market showing signs of life again?

The fine-art market has shrunk for the past five quarters. With prices plunging, auction houses have been looking for any positive sign they can find. ArtPrice is chiming in with its own bit of good news. The Art Price Global Index, it says, increased 4.97 percent in the second quarter.

While this change in direction doesn't undo last year's market turmoil, it may point to a slow recovery. Progress of the recovery continues to be debated hotly, but it's cited as the major factor in the Art Price Global Index's uptick, and the resulting increase in morale among dealers, auction houses and collectors could provide the necessary momentum necessary to give this trend legs.