Mega-collector Eli Broad. Image: bloomberg.com
“Many of the buyers of contemporary art have been hedge-fund managers and other investors who obviously are having a difficult time and have lost lots of money. The art market will soften, and an adjustment in values will take place, but it may not happen for six months to a year” says American billionaire art collector Eli Broad.
“Typically, when there are adjustments up or down in the art market, it follows what happens in the securities and real-estate market…”
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Andrea Carson writes on contemporary art, architecture and design...
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