February 16th, 2012
11:51 AM GMT
Istanbul , Turkey (CNN) - After being virtually ignored at home and abroad for decades, Turkish modern art has become a valuable commodity, sought after by international and Turkish collectors.
London’s Sotheby's auction house held its first ever auction of Turkish modern art in 2009. The auction grossed more than $2 million dollars: the next year, those numbers, nearly doubled.
Dozens of new art galleries have sprouted up in Istanbul in the last few years. Industry insiders say a big part of what's driving this growing art market is the rapid growth of the Turkish economy, which has more than doubled in size over the last 10 years.
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