“There are enough “recession-proof”, super-rich buyers…but the picture is less rosy at the lower end of the market…”
Read the full article from Reuters HERE
From Will Goetzmann’s website. He says: “Art is not a good diversification tool. It has been correlated to the stock market for long periods of time, and financial market moves tend to be followed by art market moves.”
Click HERE for the Art Market Insider, a good blog that offers an intriguing perspective on market activity.
Andrea Carson writes on contemporary art, architecture and design...
1 comment so far ↓
In the current issue of Art on Paper (yes, I read a lot of magazines), Larry Qualls talks about the precarious position of art dealers in the mid-market/price range in the current art market, with “conventional” photography dealers being the most at risk for closure. He mentions the “skyrocketing” rents on Queen St. West as a reason why some galleries have closed or moved recently from the area. Anyway, this is why people should actually like the art they buy and not look at art solely as an investment or just “buy names”.
Leave a Comment