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Uk Trade Deficit Narrows As Exports Surge To Highest On Record

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http://www.theguardian.com/business/2013/aug/09/uk-trade-deficit-exports-record

Britain's trade deficit narrowed in June, helped by a jump in art exports after big sales of impressionist and contemporary art at London's top auction houses.

Art exports jumped from £335m to £645m between May and June in the wake of the London sales. Auction house Sothebys sold a Barbara Hepworth scultpure, a Ben Nicholson oil painting of St Ives harbour and several paintings by Wassily Kandinsky as part of a £127m haul. Rival Christie's generated more than £160m from its impressionist and contemporary art sales. Among its successes was Grand Vase aux Femmes Voiles, a Picasso ceramic, which went on the market with an estimated price of £250,000-£350,000 but achieved £980,275, a world auction record for a ceramic by the artist. It also sold a Kandinsky - Studie zu Improvisation 3 - for £13,501,875.

The long hoped for export recovery is here! I'm sure we can keep up the art sales month on month.

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The long hoped for export recovery is here! I'm sure we can keep up the art sales month on month.

Don't worry, I'm firing up MS Paint as we speak. Vive la recoverie.

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